This past Thursday night, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.
Even though it is by no means a impeccable news source, her words rang true for numerous observers. It remains one of the outlets where you can find grounded and generally trustworthy reporting – especially during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Struggle
Yet the news network, now middle-aged, finds itself in a vulnerable position as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of business acquisition, rather than as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with key players as the central actors, but there is very little discussion of the common good,” Pickard said.
A Further Factor: Political Influence
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” foe.
Remember the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Continued Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s hardly a secure position. That structure could set up CNN for yet another acquisition. There is no finish line.
If you ask 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.
“Either merger would be harmful to the country, and both should be opposed by the government,” Wu argued.
The Core Problem and a Potential Solution
No matter the outcome with this particular battle, the bigger problem remains.
“The present media landscape is a highly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will not happen in the future.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in very few hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the latest corporate chess match.
