Late Thursday, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her statement seemed accurate for numerous observers. It stands as one of the organizations where you can find grounded and generally trustworthy reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.
An Uncertain Situation Amid a Business Struggle
Yet the news network, now four and a half decades old, finds itself in a precarious state as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has become part of a high-risk game of corporate ownership, instead of 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 policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It is often framed as a financial tale with key players as the protagonists, but there is very little discussion of the public interest,” Pickard explained.
A Further Element: The Former President
The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor 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.
The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s far from a safe harbor. That structure could pave the way for CNN for yet another acquisition. There is no finish line.
In the view of Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.
The Bigger Problem and a Way Ahead
Whatever happens with this particular battle, the underlying crisis endures.
“The present media landscape is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.
Policies that support independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN must not be tools in the latest merger game.
