This Tug-of-War Over the Cable News Network Shows How Flawed US Media Truly Is.

Late Thursday, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.

Although CNN is certainly not a perfect news source, her statement seemed accurate for numerous observers. It remains one of the outlets where one can locate reality-based and largely dependable reporting – particularly during fast-moving events like the one developing near a New Hampshire storage facility.

A Vulnerable Situation Amid a Business Struggle

But the news network, now middle-aged, finds itself in a precarious situation as two massive media corporations compete for 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 news-consuming public.

“This represents another instance of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

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

“The narrative is crafted as a corporate drama with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard said.

The Additional Factor: Political Influence

The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.

Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.

There is a basis to favor that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

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

A Possibility of Continued Instability

It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could set up CNN for yet another acquisition. The cycle continues.

If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.

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

The Core Problem and a Path Forward

Whatever happens with this particular battle, the bigger problem remains.

“Our current system is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can fix it.

Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will never happen.

Measures that bolster independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are achievable – they are vital for a robust democracy.

When it comes to media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the latest corporate chess match.