Late Thursday, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.
Although CNN is certainly not a perfect news source, her statement seemed accurate for numerous observers. It stands as one of the organizations where one can locate fact-based and generally reliable reporting – particularly during crises like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious State Amid a Business Tug-of-War
But CNN, now 45 years old, finds itself in a vulnerable position as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the future of CNN has become part of a high-stakes game of business acquisition, instead of as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with key players as the main characters, but there is scant discussion of the public interest,” Pickard added.
The Complicating Element: Donald Trump
The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that company 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.
An Outcome of More Instability
Notably, if Netflix prevails, 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 far from a guarantee of stability. That structure could set up CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Core Problem and a Path Forward
No matter the outcome in this situation, the bigger problem endures.
“Our current system is a highly 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 build this profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in very few hands are within reach – they are vital for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be pieces in the latest acquisition battle.
