On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
While the network is hardly a flawless news source, her statement rang true for numerous observers. It remains one of the outlets where you can find grounded and largely trustworthy reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.
A Precarious Position During a High-Stakes Struggle
However the news network, now middle-aged, finds itself in a uncertain position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader 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 said.
The Complicating Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that suitor 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.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be contested by the government,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Whatever happens with this particular battle, the bigger problem persists.
“What we have now is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised 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 very unlikely now, but that doesn’t mean it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in too few hands are within reach – they are necessary for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the most recent acquisition battle.
