This past Thursday night, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her statement seemed accurate for a lot of people. It is one of the organizations where one can locate reality-based and generally reliable reporting – particularly during breaking news situations such as the one unfolding close to a New Hampshire storage facility.
A Precarious Situation During a High-Stakes Battle
But CNN, now 45 years old, finds itself in a precarious situation as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a financial tale with key players as the protagonists, but there is very little discussion of the public interest,” Pickard said.
A Further Factor: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” foe.
Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.
Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.
He has grounds to favor that company more. For one thing, it is controlled 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 installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That setup could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.
The Fundamental Challenge and a Potential Solution
Regardless of the resolution regarding CNN, the underlying crisis persists.
“Our current system is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can address it.
Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.
Initiatives that support independent news organizations, reinforce local journalism, subsidize public media, and prohibit the accumulation of media power in very few hands are within reach – they are vital for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the latest corporate chess match.