On Thursday evening, 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 directing people to her channel's 9pm newscast.
While the network is hardly a flawless news source, her words rang true to many. It remains one of the outlets where one can locate fact-based and largely trustworthy reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable Position Amid a Corporate Tug-of-War
But CNN, now middle-aged, finds itself in a vulnerable state as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has become part of a major game of business acquisition, rather than as a question of what helps the news-consuming public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard said.
The Complicating Factor: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” adversary.
Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s far from a secure position. That structure could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.
The Bigger Issue and a Potential Solution
Whatever happens with this particular battle, the underlying crisis remains.
“Our current system is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will never happen.
Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prohibit the accumulation of media power in too few hands are not only possible – they are necessary for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the newest acquisition battle.
