On Thursday evening, while unconfirmed reports spread about an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her message resonated to many. It stands as one of the broadcasters where there exists fact-based and generally trustworthy reporting – notably during crises such as the one unfolding near a New Hampshire storage facility.
A Precarious Situation During a Business Struggle
However the news network, now middle-aged, finds itself in a vulnerable situation as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of corporate ownership, not as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a business story with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard added.
The Additional Factor: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that bidder 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, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Bigger Issue and a Way Ahead
Regardless of the resolution in this situation, the larger issue endures.
“Our current system is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in very few hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the most recent merger game.
