On Thursday evening, while unconfirmed reports spread concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although it is by no means a perfect news source, her message resonated to many. It is one of the broadcasters where one can locate reality-based and largely trustworthy reporting – particularly during crises like the one unfolding close to a New Hampshire storage facility.
A Vulnerable State Amid a Business Tug-of-War
Yet the news network, now four and a half decades old, finds itself in a uncertain state as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a major game of business acquisition, rather than as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the common good,” Pickard said.
The Complicating Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to like 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.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Continued Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for a future sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be contested by the government,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Whatever happens regarding CNN, the larger issue endures.
“The present media landscape is a very anti-democratic system, but we must resist learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.
Measures that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the accumulation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the most recent merger game.
