On Thursday evening, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Although it is by no means a perfect news source, her statement rang true for a lot of people. It is one of the outlets where you can find reality-based and largely trustworthy reporting – particularly during crises like the one unfolding near a New Hampshire storage facility.
A Precarious Position Amid a Business Tug-of-War
But CNN, now four and a half decades old, finds itself in a uncertain position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what helps the news-consuming public.
“This represents another instance of the profound systemic issues with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“The narrative is crafted as a business story with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.
A Further Layer: The Former President
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Further Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Core Problem and a Potential Solution
Whatever happens in this situation, the underlying crisis persists.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will never happen.
Measures that strengthen independent news organizations, aid local journalism, finance public media, and outlaw the concentration of media power in very few hands are achievable – they are essential for a functioning democracy.
Regarding media ownership, bigger isn’t better. And news organizations like CNN must not be pawns in the most recent corporate chess match.
