On Thursday evening, as rumors swirled regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though the network is hardly a perfect news source, her message seemed accurate for a lot of people. It is one of the broadcasters where there exists grounded and generally reliable reporting – particularly during fast-moving events such as the one taking place close to a New Hampshire storage facility.
An Uncertain Situation Amid a Business Tug-of-War
But CNN, now middle-aged, finds itself in a precarious state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has become part of a high-risk game of business acquisition, instead of as a question of what benefits the information-seeking public.
“This is yet another example of the fundamental flaws with roots in many years of governmental choices,” stated Victor Pickard, author 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 – will it be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a business story with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard said.
A Further Element: The Former President
This situation is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.
Trump has reason 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.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s not exactly a secure position. That structure could set up CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu argued.
The Bigger Issue and a Potential Solution
Whatever happens with this particular battle, the larger issue endures.
“Our current system is a very anti-democratic system, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can fix it.
Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.
Measures that bolster independent news organizations, aid local journalism, finance public media, and outlaw the concentration of media power in very few hands are within reach – they are essential for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN cannot be pawns in the newest merger game.