Late Thursday, while unconfirmed reports spread concerning 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.
Although CNN is certainly not a flawless news source, her message rang true for a lot of people. It is one of the organizations where you can find grounded and generally reliable reporting – particularly during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Precarious State During a Corporate Battle
But the news network, now 45 years old, finds itself in a vulnerable position as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with powerful individuals as the central actors, but there is very little discussion of the common good,” Pickard added.
The Complicating Element: Donald Trump
The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that bidder 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.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Continued Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s far from a safe harbor. That arrangement could set up CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu argued.
The Bigger Issue and a Potential Solution
No matter the outcome with this particular battle, the larger issue persists.
“What we have now is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that bolster independent news organizations, reinforce local journalism, fund public media, and outlaw the accumulation of media power in too few hands are not only possible – they are vital for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the newest corporate chess match.
