Late Thursday, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.
Even though it is by no means a flawless news source, her message seemed accurate for numerous observers. It is one of the outlets where you can find fact-based and generally dependable reporting – particularly during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.
A Precarious Position During a Business Struggle
Yet CNN, now middle-aged, finds itself in a precarious state as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.
No matter the result, the future of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.
“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.
The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“It gets presented as a business story with influential figures as the main characters, but there is scant discussion of the public interest,” Pickard explained.
The Additional Layer: Donald Trump
The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.
Remember the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary 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 insulate him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that bidder 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.
Paramount, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.
A Possibility of More Turmoil
Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. That would be a welcome development to many at the network, but it’s far from a safe harbor. That structure could set up CNN for a future sale. The cycle continues.
If you ask Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.
“Either merger would be bad for the country, and both should be opposed by the government,” Wu recently wrote.
The Bigger Issue and a Way Ahead
Whatever happens with this particular battle, the bigger problem persists.
“Our current system is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Government actions – from 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 head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.
Measures that strengthen independent news organizations, reinforce local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are within reach – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be tools in the most recent acquisition battle.
