This past Thursday night, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.
Even though CNN is certainly not a perfect news source, her message rang true for numerous observers. It is one of the organizations where you can find grounded and generally trustworthy reporting – notably during breaking news situations like the one unfolding near a New Hampshire storage facility.
A Vulnerable State Amid a Business Battle
However the news network, now middle-aged, finds itself in a vulnerable state as two giant media corporations compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the destiny of CNN has turned into a major game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“Here is one more case of the fundamental flaws with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It gets presented as a financial tale with influential figures as the central actors, but there is scant discussion of the public interest,” Pickard said.
A Further Factor: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly 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 Future of More Uncertainty
Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That structure could position CNN for a future sale. The cycle continues.
If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu argued.
The Bigger Problem and a Potential Solution
Regardless of the resolution with this particular battle, the underlying crisis remains.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair 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 support independent news organizations, bolster local journalism, subsidize public media, and outlaw the consolidation of media power in too few hands are not only possible – they are essential for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the newest corporate chess match.
