🔗 Share this article

This past Thursday night, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.

Although CNN is certainly not a perfect news source, her statement resonated for a lot of people. It stands as one of the outlets where there exists grounded and largely trustworthy reporting – especially during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.

An Uncertain State Amid a Business Tug-of-War

But the news network, now four and a half decades old, finds itself in a uncertain position as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the future of CNN has become part of a high-stakes game of business acquisition, instead of as a question of what serves the information-seeking public.

“This is yet another example of the deep structural problems with roots in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.

“The narrative is crafted as a business story with influential figures as the protagonists, but there is scant discussion of the public interest,” Pickard added.

The Additional Layer: Donald Trump

This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.

Think back to the shouts of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.

There is a basis to like 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.

Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Possibility of Continued Turmoil

Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for yet another acquisition. There is no finish line.

If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.

“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.

The Core Problem and a Path Forward

Regardless of the resolution in this situation, the underlying crisis remains.

“Our current system is a very anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and new 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? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.

Initiatives that support independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are not only possible – they are essential for a functioning democracy.

In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the most recent corporate chess match.