This past Thursday night, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While it is by no means a impeccable news source, her statement rang true to many. It remains one of the organizations where one can locate fact-based and generally trustworthy reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Business Struggle
But CNN, now 45 years old, finds itself in a vulnerable position as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Layer: Donald Trump
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a secure position. That setup could set up CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Core Challenge and a Path Forward
No matter the outcome in this situation, the underlying crisis endures.
“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that support independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in too few hands are within reach – they are necessary for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be pieces in the newest corporate chess match.
