On Thursday evening, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her message rang true for numerous observers. It stands as one of the broadcasters where you can find grounded and largely reliable reporting – particularly during fast-moving events like the one developing near a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
But the news network, now 45 years old, finds itself in a vulnerable position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a high-stakes game of corporate ownership, rather than as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Uncertainty
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could position CNN for a future sale. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst 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 anti-trust authorities,” Wu recently wrote.
The Fundamental Issue and a Path Forward
Regardless of the resolution in this situation, the underlying crisis endures.
“The present media landscape is a highly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in very few hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the latest acquisition battle.
