Late Thursday, as rumors swirled 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 channel's 9pm newscast.
Even though it is by no means a perfect news source, her message resonated for numerous observers. It remains one of the organizations where one can locate grounded and mostly reliable reporting – especially during breaking news situations like the one unfolding close to a New Hampshire storage facility.
A Vulnerable State Amid a Business Battle
But CNN, now middle-aged, finds itself in a uncertain state as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the future of CNN has turned into a high-risk game of corporate ownership, not as a question of what benefits the news-consuming public.
“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.
The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a business story with powerful individuals as the main characters, but there is hardly any discussion of the common good,” Pickard added.
The Complicating Element: The Former President
The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.
Remember the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.
There is a basis to like that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.
Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.
A Possibility of More Instability
It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for another sale. There is no finish line.
According to Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.
“Both acquisition attempts would be bad for the country, and both should be contested by regulators,” Wu argued.
The Core Problem and a Potential Solution
No matter the outcome regarding CNN, the bigger problem remains.
“What we have now is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.
Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.
Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in too few hands are not only possible – they are essential for a functioning democracy.
When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pieces in the latest corporate chess match.
