Late Thursday, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
While the network is hardly a perfect news source, her message rang true for numerous observers. It stands as one of the outlets where you can find reality-based and largely trustworthy reporting – especially during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Situation Amid a Business Battle
However CNN, now 45 years old, finds itself in a vulnerable state as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-stakes game of corporate ownership, not as a question of what benefits the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.
“It is often framed as a financial tale with influential figures as the central actors, but there is very little discussion of the common good,” Pickard said.
A Further Element: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.
Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of Further Turmoil
Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s not exactly a secure position. That setup could pave the way for CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu stated.
The Bigger Problem and a Path Forward
No matter the outcome with this particular battle, the bigger problem remains.
“The present media landscape is a very anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.
Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that support independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are achievable – they are essential for a functioning democracy.
In the world of media ownership, size does not equal quality. And news organizations like CNN must not be tools in the newest corporate chess match.
