On Thursday evening, as rumors swirled about an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although it is by no means a impeccable news source, her statement resonated to many. It remains one of the broadcasters where one can locate reality-based and generally reliable reporting – particularly during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Struggle
However the news network, now four and a half decades old, finds itself in a uncertain situation as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major game of corporate ownership, not as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with roots in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with key players as the main characters, but there is scant discussion of the common good,” Pickard said.
The Complicating Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” adversary.
Recall the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
Trump has reason to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Continued Uncertainty
Notably, 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 far from a guarantee of stability. That arrangement could pave the way for CNN for another sale. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Fundamental Challenge and a Way Ahead
Whatever happens regarding CNN, the bigger problem endures.
“The present media landscape is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prevent the consolidation of media power in very few hands are within reach – they are vital for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN must not be pieces in the newest corporate chess match.
