This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her words rang true for numerous observers. It stands as one of the broadcasters where you can find fact-based and mostly trustworthy reporting – particularly during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
A Precarious Position Amid a High-Stakes Struggle
Yet the news network, now 45 years old, finds itself in a precarious position as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.
The Complicating Layer: Donald Trump
This situation is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Think back to the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension 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 insulate him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to favor that bidder more. For one thing, it is controlled 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 installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s not exactly a secure position. That structure could position CNN for yet another acquisition. The cycle continues.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst 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 anti-trust authorities,” Wu recently wrote.
The Bigger Issue and a Path Forward
No matter the outcome with this particular battle, the bigger problem endures.
“What we have now is a very system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – from 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 head of the FCC won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will never happen.
Policies that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the most recent merger game.
