This past Thursday night, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
While the network is hardly a flawless news source, her message rang true for a lot of people. It stands as one of the outlets where there exists reality-based and mostly trustworthy reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Tug-of-War
Yet the news network, now middle-aged, finds itself in a vulnerable position as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard added.
The Complicating Layer: Donald Trump
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that company 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, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
An Outcome of More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could position CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Fundamental Challenge and a Way Ahead
Whatever happens in this situation, the bigger problem endures.
“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the most recent acquisition battle.
