Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It remains one of the broadcasters where one can locate grounded and largely trustworthy reporting – particularly during breaking news situations such as the one taking place near a New Hampshire storage facility.
An Uncertain Situation During a Corporate Struggle
Yet the news network, now four and a half decades old, finds itself in a vulnerable state as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has been drawn into a major game of business acquisition, rather than as a question of what benefits the information-seeking public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a business story with key players as the central actors, but there is very little discussion of the public interest,” Pickard added.
The Complicating Layer: Donald Trump
The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.
Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. You can read that as ownership that will shield him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to like that company more. For one thing, it is led 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 conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.
A Future of Continued Instability
Notably, if Netflix is successful, 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 safe harbor. That structure could set up CNN for a future sale. The cycle continues.
In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.
“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu argued.
The Bigger Challenge and a Way Ahead
Regardless of the resolution with this particular battle, the bigger problem endures.
“What we have now is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can fix it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.
Policies that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in very few hands are not only possible – they are necessary for a robust democracy.
Regarding media ownership, larger is not superior. And news organizations like CNN must not be pieces in the most recent acquisition battle.
