Late Thursday, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
While it is by no means a impeccable news source, her words rang true to many. It stands as one of the broadcasters where one can locate fact-based and largely trustworthy reporting – especially during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Battle
Yet CNN, now four and a half decades old, finds itself in a uncertain position as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of mergers and acquisitions, not as a question of what helps the news-consuming public.
“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the common good,” Pickard explained.
The Complicating Element: The Former President
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Think back to the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House 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 favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to favor that bidder more. For one thing, it is controlled 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 historic news network.
A Future of Further Instability
Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s not exactly a safe harbor. That structure could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by regulators,” Wu argued.
The Core Problem and a Path Forward
Whatever happens regarding CNN, the larger issue remains.
“What we have now is a very anti-democratic system, 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 profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are achievable – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the most recent corporate chess match.
