Late Thursday, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her statement rang true to many. It is one of the outlets where there exists reality-based and generally dependable reporting – notably during fast-moving events like the one developing close to a New Hampshire storage facility.
An Uncertain Position During a Business Tug-of-War
However the news network, now 45 years old, finds itself in a vulnerable position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has been drawn into a high-risk game of business acquisition, instead of as a question of what benefits the information-seeking public.
“Here is one more case of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a corporate drama with key players as the main characters, but there is scant discussion of the common good,” Pickard explained.
A Further Layer: Donald Trump
The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” antagonist.
Think back to 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 White House briefings.
Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
Trump has reason to like that bidder more. For one thing, it is run 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 conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of More Instability
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a secure position. That setup could set up CNN for yet another acquisition. The cycle continues.
In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by the government,” Wu argued.
The Bigger Problem and a Potential Solution
Whatever happens in this situation, the bigger problem 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.
Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.
Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and outlaw the accumulation of media power in too few hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pawns in the most recent merger game.
