This Tug-of-War Over CNN Reveals The Extent to Which Dysfunctional American Media Now Is.

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

Even though CNN is certainly not a impeccable news source, her message seemed accurate to many. It remains one of the outlets where there exists fact-based and mostly reliable reporting – particularly during breaking news situations such as the one developing near a New Hampshire storage facility.

An Uncertain Position Amid a High-Stakes Battle

Yet CNN, now four and a half decades old, finds itself in a vulnerable situation as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.

No matter the result, the destiny of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what benefits the news-consuming public.

“This represents another instance of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The conjecture about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It gets presented as a business story with influential figures as the protagonists, but there is scant discussion of the public interest,” Pickard explained.

The Additional Factor: The Former President

The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.

Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.

Trump has reason to favor 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.

Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Future of Further Instability

Significantly, if Netflix is successful, 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 far from a guarantee of stability. That arrangement could position CNN for another sale. The cycle continues.

According to Timothy Wu, a great deal 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.

“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu stated.

The Bigger Problem and a Way Ahead

Regardless of the resolution with this particular battle, the larger issue remains.

“The present media landscape is a profoundly anti-democratic system, but we must resist a sense of powerlessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.

Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.

Policies that support independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are not only possible – they are necessary for a healthy democracy.

When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the latest corporate chess match.