This Corporate Battle For the Cable News Network Reveals The Extent to Which Broken US Journalism Truly Is.

Late Thursday, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.

Even though the network is hardly a impeccable news source, her message rang true for numerous observers. It remains one of the broadcasters where one can locate reality-based and mostly reliable reporting – particularly during crises such as the one developing in the vicinity of a New Hampshire storage facility.

A Precarious State Amid a Corporate Tug-of-War

But the news network, now 45 years old, finds itself in a vulnerable state as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has turned into a major game of business acquisition, not as a question of what serves the news-consuming public.

“This represents another instance of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.

“The narrative is crafted as a financial tale with key players as the protagonists, but there is hardly any discussion of the common good,” Pickard said.

A Further Factor: Donald Trump

The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” foe.

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

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.

He has grounds 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, owner 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

It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could position CNN for yet another acquisition. There is no finish line.

If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should prohibit both deals.

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

The Fundamental Problem and a Way Ahead

Whatever happens regarding CNN, the bigger problem persists.

“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.

Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that should not imply it will be impossible forever.

Initiatives that support independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are not only possible – they are essential for a functioning democracy.

When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pawns in the most recent acquisition battle.