Late Thursday, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.
Although CNN is certainly not a impeccable news source, her message resonated for numerous observers. It remains one of the broadcasters where there exists fact-based and largely reliable reporting – particularly during fast-moving events like the one unfolding near a New Hampshire storage facility.
A Vulnerable State Amid a Business Struggle
But CNN, now middle-aged, finds itself in a precarious position as two massive media empires vie for ownership of its corporate owner, 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 benefits the information-seeking public.
“Here is one more case of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.
The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.
“It is often framed as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the common good,” Pickard said.
A Further Factor: The Former President
The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” adversary.
Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.
There is a basis to favor that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.
Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Turmoil
Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for a future sale. There is no finish line.
In the view of Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.
“Each proposed deal would be harmful to the country, and both should be contested by anti-trust authorities,” Wu stated.
The Bigger Problem and a Path Forward
Whatever happens with this particular battle, the underlying crisis remains.
“The present media landscape is a highly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – originating in 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 a distant prospect now, but that should not imply it will be impossible forever.
Measures that support independent news organizations, bolster local journalism, subsidize public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a functioning democracy.
In the world of media ownership, larger is not superior. And news organizations like CNN must not be pawns in the newest corporate chess match.
