This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
While it is by no means a perfect news source, her words resonated for numerous observers. It remains one of the outlets where you can find reality-based and generally trustworthy reporting – especially during crises like the one developing close to a New Hampshire storage facility.
An Uncertain Situation Amid a High-Stakes Battle
But the news network, now middle-aged, finds itself in a vulnerable position as two huge media conglomerates vie 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, rather than as a question of what helps the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a business story with key players as the protagonists, but there is scant discussion of the public interest,” Pickard explained.
The Additional Layer: Donald Trump
This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.
He has grounds to favor that bidder more. For one thing, it is run 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 installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of More Instability
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu argued.
The Bigger Problem and a Path Forward
No matter the outcome with this particular battle, the underlying crisis endures.
“Our current system is a very system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will not happen in the future.
Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in very few hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN must not be tools in the newest acquisition battle.
