On Thursday evening, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.
Even though CNN is certainly not a impeccable news source, her statement resonated for numerous observers. It remains one of the broadcasters where there exists fact-based and generally dependable reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.
A Vulnerable State Amid a High-Stakes Tug-of-War
But the news network, now middle-aged, finds itself in a precarious situation as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has been drawn into a major game of business acquisition, instead of as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.
“It gets presented as a business story with key players as the protagonists, but there is hardly any discussion of the public interest,” Pickard explained.
The Additional Factor: The Former President
This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” adversary.
Recall the shouts of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to favor that bidder 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 conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.
A Possibility of Further Instability
Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a safe harbor. That setup could position CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.
“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu argued.
The Bigger Issue and a Potential Solution
No matter the outcome with this particular battle, the underlying crisis remains.
“What we have now is a very anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, fund public media, and outlaw the concentration of media power in too few hands are not only possible – they are necessary for a robust democracy.
When it comes to media ownership, larger is not superior. And news organizations including CNN must not be tools in the most recent acquisition battle.
