On Thursday evening, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
Even though the network is hardly a impeccable news source, her words rang true for numerous observers. It is one of the outlets where you can find grounded and largely trustworthy reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Battle
However CNN, now 45 years old, finds itself in a uncertain position as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-risk game of business acquisition, rather than as a question of what serves the information-seeking public.
“Here is one more case of the fundamental flaws with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with key players as the protagonists, but there is scant discussion of the public interest,” Pickard explained.
A Further Factor: Political Influence
The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” antagonist.
Recall the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Future of Further Turmoil
It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for a future sale. There is no finish line.
According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Either merger would be bad for the country, and both should be contested by regulators,” Wu stated.
The Fundamental Challenge and a Path Forward
Whatever happens regarding CNN, the bigger problem persists.
“What we have now is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix 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 is not to say it will never happen.
Policies that support independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.
In the world of media ownership, size does not equal quality. And news organizations including CNN cannot be pieces in the latest corporate chess match.
