Late Thursday, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and directing people to her channel's 9pm newscast.
Although it is by no means a flawless news source, her words seemed accurate for numerous observers. It stands as one of the organizations where there exists fact-based and mostly dependable reporting – notably during breaking news situations like the one taking place close to a New Hampshire storage facility.
A Precarious Position During a Business Battle
Yet the news network, now middle-aged, finds itself in a uncertain situation as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.
“This represents another instance of the profound systemic issues with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.
“It gets presented as a financial tale with key players as the central actors, but there is very little discussion of the common good,” Pickard said.
The Complicating Factor: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” antagonist.
Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.
Trump now asserts 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 appears to support Paramount Skydance, which has made a hostile bid.
There is a basis to like that bidder 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.
The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.
A Future of Further Uncertainty
Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for yet another acquisition. There is no finish line.
If you ask Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should block both deals.
“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu argued.
The Fundamental Challenge and a Potential Solution
Whatever happens with this particular battle, the underlying crisis endures.
“The present media landscape is a very anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.
Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.
Policies that support independent news organizations, reinforce local journalism, finance public media, and prevent the concentration of media power in very few hands are within reach – they are vital for a healthy democracy.
When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the latest merger game.
