Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her message resonated to many. It remains one of the broadcasters where one can locate fact-based and generally reliable reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.
A Vulnerable State During a Business Struggle
However the news network, now four and a half decades old, finds itself in a precarious position as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, 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 profound systemic issues with origins in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It gets presented as a business story with influential figures as the main characters, but there is scant discussion of the public interest,” Pickard added.
The Additional Factor: Donald Trump
The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that company more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of Continued Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for another sale. It never ends.
According to Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu stated.
The Bigger Problem and a Path Forward
Whatever happens in this situation, the underlying crisis persists.
“The present media landscape is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.
Can reform occur 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 is not to say it will not happen in the future.
Measures that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are vital for a functioning democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be tools in the newest acquisition battle.
