On Thursday evening, amid swirling speculation about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.
Even though it is by no means a impeccable news source, her message resonated to many. It stands as one of the broadcasters where you can find reality-based and generally dependable reporting – particularly during breaking news situations such as the one developing close to a New Hampshire storage facility.
An Uncertain Situation During a High-Stakes Tug-of-War
But the news network, now four and a half decades old, finds itself in a precarious position as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.
Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what benefits the news-consuming public.
“Here is one more case of the fundamental flaws with origins in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.
The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.
“It is often framed as a corporate drama with key players as the protagonists, but there is scant discussion of the public interest,” Pickard said.
The Additional Factor: Donald Trump
The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.
Remember the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.
Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.
Trump has reason to prefer that suitor more. For one thing, it is run 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.
A Possibility of Further Turmoil
Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. That would be a welcome development to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for a future sale. It never ends.
If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.
“Each proposed deal would be bad for the country, and both should be opposed by the government,” Wu argued.
The Bigger Challenge and a Potential Solution
No matter the outcome in this situation, the larger issue persists.
“What we have now is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can tackle it.
Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will never happen.
Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are within reach – they are necessary for a healthy democracy.
In the world of media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the most recent corporate chess match.
