🔗 Share this article

On Thursday evening, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.

Although the network is hardly a perfect news source, her statement resonated for numerous observers. It remains one of the outlets where you can find reality-based and mostly dependable reporting – especially during fast-moving events such as the one developing close to a New Hampshire storage facility.

A Precarious Situation Amid a Business Tug-of-War

Yet the news network, now four and a half decades old, finds itself in a uncertain situation as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has become part of a major game of business acquisition, rather than as a question of what serves the information-seeking public.

“Here is one more case of the profound systemic issues with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.

“It is often framed as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.

The Additional Layer: Political Influence

This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.

Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.

Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.

A Future of More Turmoil

Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for another sale. It never ends.

If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.

“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.

The Fundamental Problem and a Potential Solution

Whatever happens with this particular battle, the bigger problem persists.

“What we have now is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can address it.

Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is highly improbable now, but that should not imply it will never happen.

Policies that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in too few hands are achievable – they are necessary for a healthy democracy.

In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be pieces in the latest acquisition battle.