Late Thursday, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Although CNN is certainly not a flawless news source, her statement seemed accurate for numerous observers. It is one of the outlets where there exists grounded and mostly reliable reporting – particularly during crises such as the one unfolding near a New Hampshire storage facility.
A Precarious State Amid a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable state as two huge media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a major game of business acquisition, instead of as a question of what serves the information-seeking public.
“This is yet another example of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.
A Further Element: The Former President
The CNN scenario is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.
Recall the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to prefer 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.
The company, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
An Outcome of More Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be contested by regulators,” Wu argued.
The Bigger Issue and a Way Ahead
Regardless of the resolution regarding CNN, the underlying crisis persists.
“The present media landscape is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.
Initiatives that support independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in very few hands are achievable – they are essential for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN cannot be pieces in the newest merger game.
