On Thursday evening, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her statement resonated to many. It stands as one of the broadcasters where there exists reality-based and largely trustworthy reporting – particularly during breaking news situations such as the one unfolding near a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Struggle
However the news network, now 45 years old, finds itself in a uncertain state as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“Here is one more case of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks 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 common good,” Pickard said.
The Complicating Element: Political Influence
The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation 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 criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That setup could pave the way for CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu recently wrote.
The Core Issue and a Path Forward
Whatever happens in this situation, the underlying crisis remains.
“Our current system is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will not happen in the future.
Initiatives that support independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are not only possible – they are essential for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be tools in the newest merger game.
