This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her statement rang true to many. It is one of the outlets where one can locate fact-based and mostly dependable reporting – particularly during breaking news situations such as the one developing near a New Hampshire storage facility.
An Uncertain State During a High-Stakes Tug-of-War
But CNN, now 45 years old, finds itself in a vulnerable situation as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-risk game of corporate ownership, not as a question of what serves the news-consuming public.
“This is yet another example of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard explained.
The Additional Factor: Political Influence
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that company more. For one thing, it is led 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 installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Instability
It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That setup could set up CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Bigger Issue and a Path Forward
Regardless of the resolution with this particular battle, the bigger problem endures.
“Our current system is a highly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will be impossible forever.
Policies that support independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in too few hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the most recent merger game.
