On Thursday evening, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her words resonated for numerous observers. It is one of the organizations where you can find grounded and largely reliable reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Battle
But 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.
Regardless of who wins, the future of CNN has been drawn into a high-risk game of business acquisition, not as a question of what serves the news-consuming public.
“This is yet another example of the profound systemic issues with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a financial tale with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Layer: Political Influence
This situation is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” foe.
Remember the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a secure position. That structure could set up CNN for yet another acquisition. It never ends.
According to Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Either merger would be harmful to the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Problem and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis endures.
“Our current system is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.
Policies that support independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pieces in the latest acquisition battle.
