Late Thursday, while unconfirmed reports spread about an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.
Even though CNN is certainly not a flawless news source, her message resonated to many. It remains one of the organizations where you can find fact-based and generally dependable reporting – particularly during fast-moving events such as the one taking place close to a New Hampshire storage facility.
A Vulnerable Situation During a Corporate Battle
But the news network, now 45 years old, finds itself in a precarious position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a major game of corporate ownership, rather than as a question of what serves the news-consuming public.
“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.
“It gets presented as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard said.
The Complicating Factor: The Former President
The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.
Think back to 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 claims that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That structure could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.
“Each proposed deal would be detrimental to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Challenge and a Potential Solution
Whatever happens regarding CNN, the bigger problem persists.
“Our current system is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.
Measures that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the accumulation of media power in too few hands are not only possible – they are essential for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations including CNN must not be tools in the newest acquisition battle.
