Late Thursday, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.
Even though the network is hardly a flawless news source, her statement rang true for numerous observers. It stands as one of the broadcasters where there exists fact-based and mostly reliable reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.
A Vulnerable Position During a Corporate Tug-of-War
However CNN, now four and a half decades old, finds itself in a vulnerable situation as two huge media empires compete for ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.
“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.
The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard said.
The Complicating Element: The Former President
This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.
An Outcome of Continued Uncertainty
Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That arrangement could position CNN for yet another acquisition. It never ends.
If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.
“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.
The Bigger Issue and a Potential Solution
No matter the outcome regarding CNN, the underlying crisis persists.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will not happen in the future.
Initiatives that bolster independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in very few hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.
