On Thursday evening, while unconfirmed reports spread 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.
While CNN is certainly not a flawless news source, her words seemed accurate to many. It stands as one of the organizations where there exists reality-based and largely trustworthy reporting – especially during fast-moving events like the one developing near a New Hampshire storage facility.
An Uncertain Situation Amid a Corporate Struggle
However CNN, now middle-aged, finds itself in a vulnerable situation as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has become part of a major game of business acquisition, rather than as a question of what serves the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a business story with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.
The Additional Factor: Political Influence
This situation is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension 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 insulate him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to prefer 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.
Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.
An Outcome of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be contested by the government,” Wu stated.
The Fundamental Issue and a Path Forward
No matter the outcome regarding CNN, the underlying crisis persists.
“What we have now is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, larger is not superior. And news organizations such as CNN cannot be tools in the newest corporate chess match.
