This Tug-of-War For CNN Shows The Extent to Which Broken American Media Truly Is.

Late Thursday, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.

Although it is by no means a perfect news source, her words seemed accurate to many. It is one of the organizations where you can find fact-based and mostly reliable reporting – particularly during fast-moving events like the one unfolding close to a New Hampshire storage facility.

A Vulnerable Situation During a Business Struggle

However the news network, now 45 years old, finds itself in a vulnerable situation as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has turned into a high-stakes game of corporate ownership, rather than as a question of what serves the information-seeking public.

“Here is one more case of the deep structural problems with origins in decades 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? – misses a broader point.

“The narrative is crafted as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard added.

The Additional Factor: The Former President

The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.

Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

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

He has grounds 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.

A Possibility of Further Uncertainty

It is important to note, if Netflix is successful, 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 far from a guarantee of stability. That setup could position CNN for a future sale. There is no finish line.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.

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

The Bigger Issue and a Way Ahead

Regardless of the resolution in this situation, the bigger problem persists.

“What we have now is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.

Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.

Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are necessary for a healthy democracy.

In the world of media ownership, bigger isn’t better. And news organizations such as CNN cannot be pieces in the newest merger game.