On Thursday evening, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Although it is by no means a flawless news source, her statement rang true to many. It is one of the outlets where one can locate grounded and generally dependable reporting – notably during fast-moving events like the one unfolding near a New Hampshire storage facility.
A Vulnerable State During a Corporate Battle
However the news network, now 45 years old, finds itself in a vulnerable state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of corporate ownership, not as a question of what benefits the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a business story with key players as the protagonists, but there is scant discussion of the public interest,” Pickard added.
A Further Element: Donald Trump
The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to like 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
An Outcome of Continued Uncertainty
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s far from a secure position. That structure could position CNN for another sale. The cycle continues.
According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Bigger Challenge and a Potential Solution
No matter the outcome with this particular battle, the larger issue endures.
“What we have now is a highly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will be impossible forever.
Initiatives that support independent news organizations, reinforce local journalism, fund public media, and prohibit the accumulation of media power in too few hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the newest acquisition battle.
