The Tug-of-War Over CNN Shows The Extent to Which Broken US Media Has Become.

On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.

Although the network is hardly a flawless news source, her message seemed accurate for numerous observers. It remains one of the outlets where you can find fact-based and generally dependable reporting – especially during breaking news situations such as the one developing near a New Hampshire storage facility.

A Vulnerable Situation Amid a Corporate Battle

But CNN, now 45 years old, finds itself in a precarious state as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has turned into a major game of corporate ownership, instead of as a question of what benefits the information-seeking public.

“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The speculation about who will own 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 central actors, but there is hardly any discussion of the public interest,” Pickard added.

The Complicating Layer: Donald Trump

The CNN scenario is further muddied by Donald Trump’s views 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 withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to like that bidder 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, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

A Future of Further Instability

Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for yet another acquisition. There is no finish line.

According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.

“Either merger would be bad for the country, and both should be challenged by anti-trust authorities,” Wu argued.

The Bigger Issue and a Potential Solution

Whatever happens regarding CNN, the underlying crisis persists.

“Our current system is a profoundly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster this profit-obsessed 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? Change is very unlikely now, but that doesn’t mean it will not happen in the future.

Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are not only possible – they are vital for a healthy democracy.

When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.