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Late Thursday, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.

Even though it is by no means a impeccable news source, her words seemed accurate for a lot of people. It stands as one of the broadcasters where one can locate grounded and largely trustworthy reporting – notably during crises such as the one taking place in the vicinity of a New Hampshire storage facility.

An Uncertain Position During a Business Battle

But the news network, now 45 years old, finds itself in a uncertain situation as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what helps the news-consuming public.

“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.

“It is often framed as a financial tale with influential figures as the central actors, but there is scant discussion of the common good,” Pickard explained.

A Further Factor: Donald Trump

The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.

Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

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

The company, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.

A Possibility of More Instability

Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for another sale. It never ends.

In the view of Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should disallow both deals.

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

The Fundamental Challenge and a Way Ahead

Whatever happens regarding CNN, the underlying crisis persists.

“Our current system is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can fix it.

Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.

Measures that support independent news organizations, reinforce local journalism, fund public media, and prohibit the concentration of media power in very few hands are within reach – they are vital for a functioning democracy.

When it comes to media ownership, larger is not superior. And news organizations such as CNN must not be pawns in the latest corporate chess match.