On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although it is by no means a impeccable news source, her words resonated for numerous observers. It stands as one of the organizations where there exists fact-based and mostly reliable reporting – notably during crises such as the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation Amid a Business Struggle
Yet CNN, now 45 years old, finds itself in a vulnerable situation as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of 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 hardly any discussion of the public interest,” Pickard added.
A Further Factor: Donald Trump
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Remember the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension 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. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that company more. For one thing, it is controlled 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 appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Future 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. That would be a relief to many at the network, but it’s not exactly a safe harbor. That setup could pave the way for CNN for another sale. The cycle continues.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu recently wrote.
The Core Problem and a Way Ahead
Regardless of the resolution in this situation, the underlying crisis persists.
“What we have now is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will not happen in the future.
Policies that strengthen 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 essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the newest acquisition battle.
