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On Thursday evening, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.

Although it is by no means a perfect news source, her statement rang true to many. It remains one of the outlets where one can locate grounded and generally dependable reporting – notably during crises such as the one unfolding near a New Hampshire storage facility.

A Precarious Position Amid a Business Tug-of-War

But the news network, now four and a half decades old, finds itself in a precarious state as two huge media empires battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has turned into a major game of business acquisition, not as a question of what helps the news-consuming public.

“This represents another instance of the fundamental flaws with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.

“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is scant discussion of the common good,” Pickard explained.

The Additional Element: Political Influence

The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” antagonist.

Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to prefer 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.

An Outcome of More Uncertainty

Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a welcome development to many at the network, but it’s hardly a secure position. That setup could set up CNN for another sale. The cycle continues.

In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.

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

The Fundamental Challenge and a Path Forward

No matter the outcome in this situation, the larger issue endures.

“Our current system is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.

Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.

Initiatives that strengthen independent news organizations, reinforce local journalism, subsidize public media, and outlaw the consolidation of media power in too few hands are achievable – they are essential for a robust democracy.

Regarding media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the newest acquisition battle.