On Thursday evening, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While it is by no means a impeccable news source, her words seemed accurate to many. It stands as one of the broadcasters where there exists grounded and largely trustworthy reporting – especially during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Corporate Struggle
However CNN, now middle-aged, finds itself in a vulnerable situation as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This is yet another example of the profound systemic issues with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a business story with key players as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard said.
The Complicating Factor: Political Influence
This situation is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” foe.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring 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 one reason why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.
The Core Problem and a Potential Solution
No matter the outcome with this particular battle, the larger issue persists.
“Our current system is a profoundly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can fix it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say it will not happen in the future.
Measures that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in too few hands are achievable – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the most recent corporate chess match.