This past Thursday night, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her message rang true for numerous observers. It is one of the broadcasters where one can locate grounded and generally trustworthy reporting – notably during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Business Struggle
But the news network, now 45 years old, finds itself in a vulnerable situation as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-stakes game of business acquisition, instead of as a question of what helps the news-consuming public.
“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Layer: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate 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 hostile bid.
He has grounds to like that suitor 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, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Continued Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s far from 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 against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be contested by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Path Forward
Regardless of the resolution regarding CNN, the bigger problem persists.
“The present media landscape is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in very few hands are not only possible – they are vital for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the newest acquisition battle.
