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On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.

Even though the network is hardly a perfect news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where you can find reality-based and largely dependable reporting – particularly during fast-moving events such as the one developing close to a New Hampshire storage facility.

A Precarious Position Amid a Business Struggle

Yet the news network, now middle-aged, finds itself in a vulnerable position as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has turned into a high-stakes game of business acquisition, not as a question of what serves the information-seeking public.

“This represents another instance of the fundamental flaws with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It is often framed as a financial tale with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard said.

A Further Element: Political Influence

The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.

Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now says that CNN needs new ownership. You can read that as 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.

Trump has reason to like that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.

A Future of Continued Instability

Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s not exactly a secure position. That structure could pave the way for CNN for another sale. The cycle continues.

According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.

“Each proposed deal would be harmful to the country, and both should be challenged by regulators,” Wu argued.

The Core Problem and a Path Forward

Regardless of the resolution regarding CNN, the underlying crisis remains.

“Our current system is a profoundly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can fix it.

Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.

Policies that support independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in a handful of 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 including CNN shouldn’t be tools in the newest acquisition battle.