This past Thursday night, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her words seemed accurate to many. It remains one of the organizations where there exists reality-based and largely reliable reporting – especially during breaking news situations like the one taking place near a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Battle
Yet the news network, now 45 years old, finds itself in a uncertain situation as two huge media corporations battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a major game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“Here is one more case of the fundamental flaws with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“The narrative is crafted as a financial tale with key players as the main characters, but there is very little discussion of the public interest,” Pickard added.
A Further Factor: The Former President
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to prefer that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s not exactly a safe harbor. That setup could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Bigger Issue and a Path Forward
Whatever happens with this particular battle, the larger issue endures.
“What we have now is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will never happen.
Policies that support independent news organizations, bolster local journalism, fund public media, and outlaw the accumulation of media power in very few hands are within reach – they are essential for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pieces in the newest acquisition battle.
