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This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

Even though CNN is certainly not a flawless news source, her statement resonated for a lot of people. It is one of the organizations where you can find fact-based and largely trustworthy reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.

A Vulnerable Position During a High-Stakes Battle

Yet the news network, now middle-aged, finds itself in a precarious state as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, not as a question of what helps the information-seeking public.

“This is yet another example of the profound systemic issues with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.

“It gets presented as a financial tale with influential figures as the protagonists, but there is very little 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 primary “fake news” adversary.

Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.

Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to prefer that company more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

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

A Future of Continued Uncertainty

It is important to note, if Netflix wins, 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 not exactly a secure position. That setup could position CNN for a future sale. The cycle continues.

In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.

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

The Bigger Problem and a Potential Solution

No matter the outcome with this particular battle, the bigger problem endures.

“The present media landscape is a very system hostile to democracy, but we must resist learned helplessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.

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

Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in too few hands are not only possible – they are essential for a robust democracy.

Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the most recent corporate chess match.