The Corporate Battle For the Cable News Network Highlights The Extent to Which Dysfunctional US Media Now Is.

This past Thursday night, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.

Although CNN is certainly not a flawless news source, her message resonated for numerous observers. It remains one of the outlets where there exists fact-based and mostly dependable reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.

A Precarious Situation Amid a High-Stakes Battle

But CNN, now four and a half decades old, finds itself in a uncertain state as two huge media empires compete for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the future of CNN has turned into a major game of business acquisition, instead of as a question of what helps the information-seeking public.

“This represents another instance of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

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

“It is often framed as a business story with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard said.

The Complicating Factor: Donald Trump

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

Think back to 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 press briefings.

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.

There is a basis to like that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

A Possibility of Continued Uncertainty

Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for a future sale. There is no finish line.

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

“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.

The Core Issue and a Path Forward

Regardless of the resolution with this particular battle, the bigger problem persists.

“What we have now is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can tackle it.

Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.

Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in very few hands are within reach – they are vital for a robust democracy.

When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the newest corporate chess match.