This Corporate Battle Over CNN Shows The Extent to Which Broken American Media Now Is.

Late Thursday, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

While the network is hardly a perfect news source, her statement rang true for numerous observers. It is one of the broadcasters where there exists fact-based and mostly trustworthy reporting – especially during breaking news situations such as the one taking place close to a New Hampshire storage facility.

A Vulnerable State During a High-Stakes Tug-of-War

But the news network, now middle-aged, finds itself in a vulnerable situation as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has turned into a major game of corporate ownership, rather than as a question of what helps the news-consuming public.

“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.

The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.

“It gets presented as a business story with influential figures as the protagonists, but there is hardly any discussion of the common good,” Pickard added.

The Complicating Factor: Political Influence

This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.

Recall the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal 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 one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.

Trump has reason to favor that bidder more. For one thing, it is controlled 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 editor-in-chief of that storied news network.

An Outcome of Continued Instability

Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could position CNN for a future sale. The cycle continues.

According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.

“Both acquisition attempts would be harmful to the country, and both should be challenged by regulators,” Wu stated.

The Bigger Problem and a Path Forward

Regardless of the resolution regarding CNN, the bigger problem remains.

“Our current system is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.

Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.

Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in very few hands are achievable – they are essential for a functioning democracy.

Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be pieces in the latest corporate chess match.