On Thursday evening, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.
While CNN is certainly not a impeccable news source, her words seemed accurate to many. It is one of the broadcasters where you can find grounded and largely dependable reporting – especially during fast-moving events like the one taking place near a New Hampshire storage facility.
A Precarious State Amid a Corporate Tug-of-War
But the news network, now middle-aged, finds itself in a uncertain state as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the fate of CNN has turned into a high-risk game of mergers and acquisitions, not 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 regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.
“It is often framed as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard said.
A Further Element: Donald Trump
This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.
Recall the cries of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.
Trump has reason to prefer that suitor 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, parent of CBS News, also recently installed the right-leaning Bari Weiss, famous 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 separated into a separate entity. That would be a relief to many at the network, but it’s far from a secure position. That structure could set up CNN for a future sale. There is no finish line.
In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.
“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu argued.
The Core Challenge and a Potential Solution
Regardless of the resolution with this particular battle, the bigger problem remains.
“The present media landscape is a profoundly system hostile to 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 profit-obsessed monster, and new policy decisions can address it.
Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.
Policies that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are necessary for a healthy democracy.
Regarding media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the most recent merger game.
