This past Thursday night, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement resonated for a lot of people. It stands as one of the organizations where one can locate grounded and generally trustworthy reporting – especially during fast-moving events such as the one developing close to a New Hampshire storage facility.
An Uncertain State During a High-Stakes Tug-of-War
However the news network, now four and a half decades old, finds itself in a precarious position as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-risk game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard said.
The Additional Element: Political Influence
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Further Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That structure could position CNN for another sale. It never ends.
In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem endures.
“Our current system is a highly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and prevent the consolidation of media power in a handful of hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the most recent corporate chess match.
