This past Thursday night, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
While it is by no means a flawless news source, her message resonated to many. It stands as one of the broadcasters where one can locate reality-based and mostly trustworthy reporting – especially during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Battle
Yet the news network, now middle-aged, finds itself in a precarious state as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a high-stakes game of corporate ownership, not as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard explained.
The Additional Factor: The Former President
The CNN scenario is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” adversary.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Possibility of More Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for another sale. There is no finish line.
According to Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Fundamental Problem and a Path Forward
Regardless of the resolution with this particular battle, the larger issue remains.
“What we have now is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.
Measures that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the most recent acquisition battle.
