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This past Thursday night, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.

While it is by no means a perfect news source, her statement resonated for numerous observers. It stands as one of the organizations where one can locate grounded and generally dependable reporting – notably during breaking news situations like the one taking place close to a New Hampshire storage facility.

An Uncertain Situation Amid a High-Stakes Battle

Yet the news network, now 45 years old, finds itself in a precarious state as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has been drawn into a high-risk game of business acquisition, rather than as a question of what helps the news-consuming public.

“Here is one more case of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

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

“It is often framed as a business story with key players as the protagonists, but there is scant discussion of the common good,” Pickard explained.

The Additional Layer: Political Influence

This situation is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.

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

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to like that company more. For one thing, it is run 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 appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.

A Future of Further Instability

Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for a future sale. The cycle continues.

In the view of Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.

“Either merger would be bad for the country, and both should be challenged by regulators,” Wu argued.

The Bigger Problem and a Way Ahead

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

“Our current system is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can tackle it.

Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.

Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are achievable – they are essential for a functioning democracy.

In the world of media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the most recent acquisition battle.