On Thursday evening, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a perfect news source, her message seemed accurate for numerous observers. It is one of the broadcasters where one can locate fact-based and generally reliable reporting – notably during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation During a Business Struggle
Yet the news network, now middle-aged, finds itself in a precarious state as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what benefits the news-consuming public.
“This represents another instance of the deep structural problems with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.
“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard added.
A Further Element: The Former President
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.
Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to prefer 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 appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Possibility of Continued Turmoil
Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That arrangement could position CNN for yet another acquisition. The cycle continues.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.
“Each proposed deal would be detrimental to the country, and both should be challenged by the government,” Wu stated.
The Bigger Problem and a Path Forward
No matter the outcome regarding CNN, the bigger problem endures.
“What we have now is a profoundly structure that undermines democracy, but we must resist learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised 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? Reform is highly improbable now, but that should not imply it will not happen in the future.
Policies that bolster independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are achievable – they are vital for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the latest acquisition battle.
