On Thursday evening, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
Although it is by no means a perfect news source, her message resonated to many. It remains one of the broadcasters where there exists reality-based and generally trustworthy reporting – especially during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious State During a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a precarious state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the destiny of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what helps the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with influential figures as the protagonists, but there is hardly any discussion of the public interest,” Pickard said.
A Further Layer: Political Influence
This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.
Recall the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that company 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 appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
A Possibility of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a secure position. That structure could position CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Either merger would be bad for the country, and both should be contested by regulators,” Wu argued.
The Core Problem and a Path Forward
Whatever happens in this situation, the larger issue endures.
“The present media landscape is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address 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 should not imply it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are within reach – they are essential for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN must not be pawns in the newest corporate chess match.
