Late Thursday, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her words resonated to many. It remains one of the organizations where there exists grounded and largely trustworthy reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.
A Vulnerable Position During a Business Battle
However the news network, now 45 years old, finds itself in a vulnerable situation as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of corporate ownership, not as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard said.
The Additional Factor: Donald Trump
The CNN scenario is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like 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, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of More Turmoil
It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for a future sale. The cycle continues.
If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Bigger Problem and a Path Forward
No matter the outcome regarding CNN, the bigger problem endures.
“What we have now is a very anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to 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 Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, fund public media, and prohibit the consolidation of media power in too few hands are achievable – they are vital for a healthy democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the latest acquisition battle.
