Late Thursday, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her statement resonated to many. It is one of the organizations where you can find grounded and generally trustworthy reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.
An Uncertain Situation During a Corporate Battle
Yet CNN, now four and a half decades old, finds itself in a vulnerable position as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what helps the news-consuming public.
“Here is one more case of the deep structural problems with roots in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a corporate drama with key players as the protagonists, but there is scant discussion of the common good,” Pickard added.
The Complicating Layer: The Former President
The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” foe.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to like that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Instability
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 welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for a future sale. It never ends.
If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution regarding CNN, the larger issue remains.
“What we have now is a profoundly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can fix it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.
Initiatives that support independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in very few hands are achievable – they are necessary for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the most recent merger game.
