Late Thursday, as rumors swirled regarding a shooting 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.
Although CNN is certainly not a impeccable news source, her message seemed accurate for a lot of people. It remains one of the broadcasters where one can locate reality-based and generally reliable reporting – particularly during crises like the one unfolding in the vicinity of a New Hampshire storage facility.
An Uncertain Position Amid a Corporate Struggle
However CNN, now 45 years old, finds itself in a uncertain situation as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Regardless of who wins, the future of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what serves the news-consuming public.
“This represents another instance of the fundamental flaws with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.
The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.
“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard said.
A Further Element: The Former President
This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” foe.
Recall the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.
Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.
He has grounds to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.
The company, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.
An Outcome of More Turmoil
It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for yet another acquisition. It never ends.
In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.
“Both acquisition attempts would be bad for the country, and both should be opposed by regulators,” Wu argued.
The Fundamental Issue and a Way Ahead
Whatever happens regarding CNN, the bigger problem endures.
“The present media landscape is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.
Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will not happen in the future.
Measures that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in too few hands are not only possible – they are essential for a healthy democracy.
When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pawns in the newest corporate chess match.
