This past Thursday night, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.
While CNN is certainly not a impeccable news source, her words rang true for a lot of people. It is one of the broadcasters where there exists fact-based and generally trustworthy reporting – particularly during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.
A Vulnerable Situation Amid a Business Tug-of-War
However the news network, now 45 years old, finds itself in a vulnerable situation as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the destiny of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what helps the information-seeking public.
“Here is one more case of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.
“It gets presented as a corporate drama with key players as the protagonists, but there is very little discussion of the common good,” Pickard added.
The Complicating Layer: Political Influence
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.
Recall the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.
A Future of More Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for yet another acquisition. It never ends.
According to Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Challenge and a Path Forward
No matter the outcome in this situation, the bigger problem remains.
“What we have now is a highly system hostile to democracy, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can address it.
Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.
Policies that support independent news organizations, bolster local journalism, finance public media, and outlaw the accumulation of media power in too few hands are within reach – they are necessary for a robust democracy.
When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the latest corporate chess match.
