Late Thursday, amid swirling speculation 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.
Even though the network is hardly a perfect news source, her statement seemed accurate for numerous observers. It remains one of the outlets where one can locate fact-based and generally trustworthy reporting – particularly during crises such as the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Tug-of-War
However CNN, now four and a half decades old, finds itself in a uncertain position as two huge media corporations battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of corporate ownership, rather than as a question of what serves the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
The Additional Layer: The Former President
The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
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 come down on the side of Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company more. For one thing, it is led 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, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Further Turmoil
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s hardly a safe harbor. That structure could set up CNN for a future sale. There is no finish line.
According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu stated.
The Core Problem and a Potential Solution
No matter the outcome in this situation, the larger issue remains.
“The present media landscape is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in very few hands are within reach – they are vital for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the latest merger game.
