Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.
While it is by no means a impeccable news source, her words resonated for numerous observers. It remains one of the outlets where there exists grounded and generally dependable reporting – especially during crises like the one taking place in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a Business Tug-of-War
However CNN, now 45 years old, finds itself in a vulnerable position as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a high-risk game of business acquisition, not as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is scant discussion of the common good,” Pickard added.
The Complicating Element: Donald Trump
The CNN scenario is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump 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 lead editor of that historic news network.
An Outcome of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for another sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Bigger Problem and a Way Ahead
No matter the outcome in this situation, the bigger problem endures.
“Our current system is a very structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can fix it.
Is this likely 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.
Initiatives that support independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in very few hands are within reach – they are necessary for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN cannot be tools in the most recent acquisition battle.
