On Thursday evening, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Even though CNN is certainly not a flawless news source, her words resonated for numerous observers. It remains one of the outlets where one can locate grounded and largely reliable reporting – notably during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable State During a Business Battle
But CNN, now 45 years old, finds itself in a uncertain position as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has been drawn into a high-risk game of corporate ownership, not as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with powerful individuals as the central actors, but there is scant discussion of the common good,” Pickard explained.
The Additional Factor: The Former President
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” adversary.
Remember the shouts of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to favor that company 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, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of Further Uncertainty
It is important to note, 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 far from a secure position. That structure could pave the way for CNN for a future sale. It never ends.
In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Core Issue and a Potential Solution
Regardless of the resolution in this situation, the larger issue endures.
“What we have now is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.
Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be pawns in the newest acquisition battle.
