On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her message resonated to many. It is one of the broadcasters where one can locate grounded and largely reliable reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.
A Precarious Position During a Business Struggle
But CNN, now four and a half decades old, finds itself in a vulnerable state as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a business story with influential figures as the main characters, but there is hardly any discussion of the societal benefit,” Pickard explained.
The Additional Factor: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.
He has grounds to prefer that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Possibility of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That structure could position CNN for another sale. It never ends.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu argued.
The Bigger Issue and a Path Forward
Whatever happens in this situation, the bigger problem persists.
“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.
Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the concentration of media power in very few hands are achievable – they are vital for a functioning democracy.
Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be tools in the newest acquisition battle.
