On Thursday evening, 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.
Although it is by no means a perfect news source, her statement resonated for a lot of people. It stands as one of the broadcasters where you can find fact-based and generally trustworthy reporting – notably during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Vulnerable Situation Amid a Corporate Tug-of-War
But the news network, now middle-aged, finds itself in a vulnerable situation as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned 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 profound systemic issues with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.
The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.
“The narrative is crafted as a business story with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard added.
A Further Factor: Donald Trump
This situation is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” adversary.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.
Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.
He has grounds to like that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
An Outcome of Further Instability
Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s far from a guarantee of stability. That structure could position CNN for another sale. It never ends.
According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be contested by the government,” Wu argued.
The Fundamental Problem and a Path Forward
Whatever happens regarding CNN, the bigger problem endures.
“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can address it.
Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.
Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and prevent the accumulation of media power in too few hands are not only possible – they are essential for a robust democracy.
In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the newest corporate chess match.
