Late Thursday, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her message rang true to many. It is one of the outlets where there exists grounded and mostly dependable reporting – notably during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Battle
Yet CNN, now middle-aged, finds itself in a vulnerable position as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has been drawn into a high-risk game of corporate ownership, instead of as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is scant discussion of the common good,” Pickard added.
The Complicating Layer: Political Influence
This situation is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now claims that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to favor that suitor more. For one thing, it is led 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Continued Turmoil
Notably, if Netflix wins, 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 hardly a safe harbor. That arrangement could set up CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Problem and a Way Ahead
No matter the outcome in this situation, the underlying crisis remains.
“What we have now is a highly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.
Measures that support independent news organizations, reinforce local journalism, fund public media, and prohibit the accumulation of media power in a handful of hands are achievable – they are vital for a robust democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the newest acquisition battle.
