On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
While the network is hardly a perfect news source, her statement rang true to many. It remains one of the broadcasters where you can find grounded and largely trustworthy reporting – particularly during fast-moving events like the one developing close to a New Hampshire storage facility.
A Precarious Position During a Business Battle
But the news network, now 45 years old, finds itself in a vulnerable state as two huge media conglomerates battle over ownership of its parent company, 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 serves the information-seeking public.
“This is yet another example of the fundamental flaws with origins in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard added.
A Further Element: Political Influence
The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will shield him from journalistic oversight. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Further Turmoil
It is important to note, if Netflix prevails, 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 far from a safe harbor. That setup could position CNN for another sale. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Fundamental Problem and a Way Ahead
No matter the outcome with this particular battle, the underlying crisis persists.
“What we have now is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are within reach – they are essential for a functioning democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the latest merger game.
