On Thursday evening, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a perfect news source, her words seemed accurate for numerous observers. It is one of the organizations where one can locate grounded and largely dependable reporting – notably during crises like the one developing close to a New Hampshire storage facility.
An Uncertain State Amid a High-Stakes Struggle
But CNN, now 45 years old, finds itself in a precarious state as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a major game of business acquisition, not as a question of what benefits the news-consuming public.
“This is yet another example of the profound systemic issues with origins in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the common good,” Pickard said.
A Further Layer: Donald Trump
The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that bidder more. For one thing, it is controlled 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 placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Uncertainty
Notably, if Netflix wins, 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 hardly a guarantee of stability. That arrangement 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 influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Either merger would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Bigger Problem and a Way Ahead
Regardless of the resolution regarding CNN, the bigger problem endures.
“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, reinforce local journalism, subsidize public media, and outlaw the concentration of media power in very 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 pieces in the newest acquisition battle.
