Late Thursday, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her message seemed accurate for a lot of people. It remains one of the broadcasters where there exists grounded and largely dependable reporting – particularly during crises like the one unfolding close to a New Hampshire storage facility.
A Precarious State Amid a Corporate Struggle
But the news network, now 45 years old, finds itself in a uncertain situation as two huge media empires compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what benefits the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard added.
The Additional Layer: Political Influence
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.
A Future of Continued Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s far from a safe harbor. 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 against the law, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.
The Core Problem and a Potential Solution
Regardless of the resolution regarding CNN, the underlying crisis endures.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is a distant prospect now, but that is not to say it will be impossible forever.
Measures that strengthen independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations including CNN cannot be tools in the latest corporate chess match.
