Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
While the network is hardly a flawless news source, her message seemed accurate to many. It remains one of the broadcasters where there exists grounded and generally trustworthy reporting – especially during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a Business Battle
Yet the news network, now 45 years old, finds itself in a vulnerable state as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a financial tale with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard said.
The Additional Factor: The Former President
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Think back to the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis 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 appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Fundamental Challenge and a Way Ahead
Whatever happens regarding CNN, the larger issue remains.
“Our current system is a highly anti-democratic system, but we must resist a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will not happen in the future.
Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in too few hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be pieces in the most recent corporate chess match.
