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Late Thursday, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

Even though it is by no means a perfect news source, her statement rang true for numerous observers. It remains one of the outlets where there exists grounded and largely reliable reporting – particularly during crises such as the one taking place in the vicinity of a New Hampshire storage facility.

An Uncertain Position Amid a Corporate Tug-of-War

But the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.

No matter the result, the destiny of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what helps the news-consuming public.

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

The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It is often framed as a corporate drama with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard added.

The Additional Layer: Political Influence

The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” adversary.

Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now says that CNN needs new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a unsolicited offer.

There is a basis to prefer 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.

The company, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Future of Further Uncertainty

It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s hardly a secure position. That structure could position CNN for yet another acquisition. The cycle continues.

If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should block both deals.

“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.

The Bigger Issue and a Potential Solution

No matter the outcome regarding CNN, the underlying crisis endures.

“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.

Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.

Policies that bolster independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in very few hands are not only possible – they are essential for a robust democracy.

Regarding media ownership, larger is not superior. And news organizations including CNN must not be tools in the most recent corporate chess match.