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On Thursday evening, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.

While CNN is certainly not a perfect news source, her statement resonated for numerous observers. It stands as one of the organizations where you can find grounded and largely reliable reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.

A Vulnerable Situation Amid a Corporate Tug-of-War

Yet CNN, now middle-aged, finds itself in a precarious position as two huge media corporations compete 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, instead of as a question of what serves the news-consuming public.

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

The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.

“The narrative is crafted as a business story with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard explained.

The Additional Factor: Political Influence

The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.

Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.

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

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

A Possibility of More Instability

Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That structure could set up CNN for yet another acquisition. It never ends.

If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.

“Either merger would be harmful to the country, and both should be contested by the government,” Wu stated.

The Core Problem and a Way Ahead

No matter the outcome with this particular battle, the larger issue remains.

“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.

Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will never happen.

Initiatives that support independent news organizations, bolster local journalism, finance public media, and prevent 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, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the most recent merger game.