On Thursday evening, while unconfirmed reports spread about an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her words seemed accurate to many. It stands as one of the organizations where you can find reality-based and mostly trustworthy reporting – particularly during crises such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a High-Stakes Struggle
However CNN, now four and a half decades old, finds itself in a vulnerable situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a major game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a corporate drama with influential figures as the protagonists, but there is very little discussion of the common good,” Pickard added.
The Additional Factor: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Possibility of Further Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s far from a secure position. That structure could position CNN for a future sale. It never ends.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Problem and a Way Ahead
No matter the outcome regarding CNN, the underlying crisis remains.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in too few hands are achievable – they are vital for a functioning democracy.
When it comes to media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the newest acquisition battle.
