Late Thursday, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a flawless news source, her statement resonated for a lot of people. It is one of the broadcasters where one can locate fact-based and mostly trustworthy reporting – particularly during crises such as the one taking place near a New Hampshire storage facility.
An Uncertain Position During a Business Struggle
But the news network, now 45 years old, finds itself in a vulnerable situation as two giant media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-stakes game of business acquisition, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It is often framed as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard said.
The Additional Element: The Former President
This situation is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” adversary.
Remember the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims 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 a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.
There is a basis to favor that bidder more. For one thing, it is controlled by David Ellison, son of the ally of 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 editor-in-chief of that storied news network.
A Future of Further Instability
Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for a future sale. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu stated.
The Fundamental Challenge and a Way Ahead
Regardless of the resolution in this situation, the larger issue persists.
“Our current system is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in too few hands are not only possible – they are necessary for a functioning democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be pieces in the latest merger game.
