On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
While it is by no means a perfect news source, her message resonated to many. It remains one of the outlets where one can locate fact-based and mostly trustworthy reporting – especially during breaking news situations like the one unfolding close to a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Struggle
But the news network, now 45 years old, finds itself in a vulnerable situation as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a high-stakes game of corporate ownership, rather than as a question of what benefits the information-seeking public.
“Here is one more case of the profound systemic issues with roots in many years of policy decisions,” said 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 – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a corporate drama with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.
The Additional Element: Donald Trump
The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.
Think back to the chants 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 asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that bidder 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 conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That setup could pave the way for CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by the government,” Wu argued.
The Core Challenge and a Path Forward
Regardless of the resolution with this particular battle, the larger issue endures.
“Our current system is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are not only possible – they are vital for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be tools in the most recent acquisition battle.
