Late Thursday, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It is one of the organizations where there exists fact-based and generally dependable reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Situation During a Business Struggle
But the news network, now middle-aged, finds itself in a vulnerable state as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has become part of a major game of business acquisition, instead of as a question of what serves the news-consuming public.
“This represents another instance 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 Penn.
The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Element: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.
Think back to the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that company more. For one thing, it is led 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, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future of Continued Turmoil
Notably, if Netflix wins, 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 guarantee of stability. That structure could pave the way for CNN for a future sale. It never ends.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by the government,” Wu stated.
The Core Challenge and a Path Forward
Whatever happens with this particular battle, the larger issue remains.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.
Measures that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in very few hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the newest corporate chess match.
