On Thursday evening, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.
Even though it is by no means a perfect news source, her words seemed accurate for numerous observers. It is one of the broadcasters where you can find reality-based and generally trustworthy reporting – especially during fast-moving events such as the one developing close to a New Hampshire storage facility.
A Precarious State During a Business Struggle
But the news network, now middle-aged, finds itself in a vulnerable state as two massive media empires battle over ownership of its corporate owner, Warner Bros Discovery.
No matter the result, the fate of CNN has turned into a high-stakes game of corporate ownership, instead of as a question of what benefits the information-seeking public.
“This represents another instance of the deep structural problems with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.
“It is often framed as a business story with key players as the protagonists, but there is scant discussion of the public interest,” Pickard added.
The Complicating Element: Political Influence
The CNN scenario is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.
Remember the cries of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now claims 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 hostile bid.
There is a basis to favor that bidder more. For one thing, it is run by David Ellison, son of the pro-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 Possibility of More Uncertainty
Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s far from a secure position. That setup could set up CNN for yet another acquisition. There is no finish line.
According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.
“Each proposed deal would be harmful to the country, and both should be opposed by the government,” Wu recently wrote.
The Bigger Problem and a Path Forward
Regardless of the resolution with this particular battle, the larger issue endures.
“The present media landscape is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.
Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in very few hands are within reach – they are vital for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the most recent corporate chess match.
