The Corporate Battle For the Cable News Network Shows The Extent to Which Dysfunctional US Journalism Has Become.

This past Thursday night, as rumors swirled about an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.

Even though it is by no means a perfect news source, her statement resonated for numerous observers. It stands as one of the organizations where there exists grounded and generally dependable reporting – especially during crises like the one developing near a New Hampshire storage facility.

A Precarious Position During a Business Tug-of-War

But CNN, now 45 years old, finds itself in a vulnerable state as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the future of CNN has been drawn into a high-risk game of business acquisition, rather than as a question of what serves the news-consuming public.

“This is yet another example of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It is often framed as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the common good,” Pickard added.

A Further Factor: The Former President

The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” foe.

Recall the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive 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. You can read that as ownership that will protect him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.

He has grounds to prefer that bidder 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, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.

An Outcome of More Uncertainty

It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s far from a safe harbor. That arrangement could pave the way for CNN for another sale. The cycle continues.

In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should block both deals.

“Either merger would be bad for the country, and both should be opposed by the government,” Wu argued.

The Core Issue and a Path Forward

Whatever happens regarding CNN, the larger issue remains.

“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new 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? Reform is very unlikely now, but that is not to say it will not happen in the future.

Measures that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are essential for a functioning democracy.

Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the most recent merger game.