This Corporate Battle For the Cable News Network Reveals How Flawed US Journalism Now Is.

Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.

Even though it is by no means a flawless news source, her statement seemed accurate for a lot of people. It is one of the broadcasters where there exists reality-based and mostly dependable reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.

An Uncertain Position During a Corporate Tug-of-War

But CNN, now four and a half decades old, finds itself in a precarious state as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has turned into a high-stakes game of mergers and acquisitions, rather than as a question of what serves the news-consuming public.

“This represents another instance of the profound systemic issues with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The speculation about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.

“It is often framed as a corporate drama with key players as the central actors, but there is scant discussion of the common good,” Pickard added.

A Further Factor: Donald Trump

This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.

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

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.

Trump has reason to like that suitor more. For one thing, it is led 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 right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

A Future of Further Uncertainty

Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That arrangement could position CNN for yet another acquisition. There is no finish line.

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

“Each proposed deal would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.

The Bigger Problem and a Potential Solution

Regardless of the resolution in this situation, the underlying crisis persists.

“Our current system is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial 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? Change is highly improbable now, but that should not imply it will be impossible forever.

Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prohibit the accumulation of media power in very few hands are achievable – they are vital for a functioning democracy.

In the world of media ownership, size does not equal quality. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.