Late Thursday, as rumors swirled regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her statement seemed accurate for a lot of people. It remains one of the broadcasters where there exists grounded and generally reliable reporting – notably during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Business Battle
Yet the news network, now 45 years old, finds itself in a vulnerable position as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-stakes game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Additional Factor: The Former President
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Future of Continued Uncertainty
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s not exactly a secure position. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be contested by the government,” Wu stated.
The Fundamental Challenge and a Path Forward
Whatever happens regarding CNN, the underlying crisis persists.
“The present media landscape is a highly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.
Measures that bolster independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in very few hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the most recent acquisition battle.
