This past Thursday night, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.
Although the network is hardly a perfect news source, her statement resonated to many. It remains one of the outlets where one can locate grounded and generally reliable reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Precarious Position During a Business Struggle
However the news network, now middle-aged, finds itself in a uncertain state as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a high-risk game of business acquisition, instead of as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a business story with key players as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.
A Further Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company 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, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of More Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s not exactly a secure position. That setup could set up CNN for another sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Core Problem and a Potential Solution
Regardless of the resolution with this particular battle, the underlying crisis persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm 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, aid local journalism, fund public media, and outlaw the concentration of media power in very few hands are within reach – they are vital for a robust democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the newest merger game.
