On Thursday evening, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her words rang true for a lot of people. It is one of the organizations where there exists fact-based and mostly trustworthy reporting – notably during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Battle
However CNN, now middle-aged, finds itself in a precarious position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has become part of a high-stakes game of business acquisition, rather than as a question of what helps the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a broader point.
“The narrative is crafted as a financial tale with influential figures as the main characters, but there is hardly any discussion of the public interest,” Pickard added.
A Further Factor: Political Influence
The CNN scenario is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
Trump has reason to prefer that suitor 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, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Future of Further Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for another sale. It never ends.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.
The Fundamental Issue and a Path Forward
Whatever happens in this situation, the bigger problem endures.
“Our current system is a very anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can address it.
Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are not only possible – they are essential for a healthy democracy.
Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the newest acquisition battle.
