Late Thursday, as rumors swirled concerning the Brown University gunman, 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 impeccable news source, her statement seemed accurate to many. It stands as one of the organizations where you can find fact-based and largely trustworthy reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Vulnerable State Amid a Business Struggle
Yet the news network, now 45 years old, finds itself in a precarious position as two giant media empires battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a business story with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard explained.
The Additional Layer: The Former President
The network's predicament is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Continued Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Issue and a Path Forward
Regardless of the resolution with this particular battle, the underlying crisis remains.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Policies that support independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the latest corporate chess match.
