Late Thursday, as rumors swirled 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.
Even though CNN is certainly not a impeccable news source, her message rang true for numerous observers. It remains one of the outlets where you can find reality-based and mostly dependable reporting – notably during breaking news situations such as the one developing near a New Hampshire storage facility.
A Vulnerable Position During a Business Struggle
But CNN, now 45 years old, finds itself in a uncertain state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a major game of corporate ownership, instead of as a question of what helps the information-seeking public.
“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
The Additional Layer: The Former President
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now claims that CNN needs new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Future of More Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s hardly a secure position. That arrangement could position CNN for another sale. There is no finish line.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by the government,” Wu stated.
The Core Challenge and a Way Ahead
Whatever happens with this particular battle, the bigger problem persists.
“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.
Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in very few hands are achievable – they are necessary for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the latest merger game.
