On Thursday evening, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
While it is by no means a flawless news source, her statement rang true for a lot of people. It is one of the organizations where one can locate grounded and generally trustworthy reporting – particularly during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a High-Stakes Battle
Yet the news network, now middle-aged, finds itself in a uncertain situation as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is scant discussion of the common good,” Pickard said.
A Further Element: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” adversary.
Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly 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 lead editor of that venerable news network.
An Outcome of Continued Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s far from a secure position. That structure could position CNN for another sale. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Issue and a Path Forward
No matter the outcome regarding CNN, the larger issue persists.
“Our current system is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be pieces in the most recent corporate chess match.
