This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her words resonated to many. It remains one of the broadcasters where you can find reality-based and mostly reliable reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious Position During a High-Stakes Struggle
However the news network, now four and a half decades old, finds itself in a precarious position as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.
A Further Factor: Political Influence
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” foe.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Continued Turmoil
It is important to note, 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 not exactly a secure position. That setup could position CNN for another sale. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Core Problem and a Path Forward
No matter the outcome with this particular battle, the underlying crisis remains.
“What we have now is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.
Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and prohibit the concentration of media power in too few hands are achievable – they are necessary for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be pieces in the newest acquisition battle.
