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Late Thursday, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

Even though it is by no means a impeccable news source, her words seemed accurate for numerous observers. It stands as one of the outlets where there exists fact-based and mostly dependable reporting – particularly during breaking news situations such as the one unfolding close to a New Hampshire storage facility.

An Uncertain Situation During a Corporate Battle

However CNN, now four and a half decades old, finds itself in a vulnerable position as two giant media corporations vie for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has been drawn into a high-risk game of corporate ownership, not as a question of what benefits the news-consuming public.

“This is yet another example of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.

“It gets presented as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.

The Additional Layer: Political Influence

The network's predicament is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” foe.

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

Trump now says that the network requires new ownership. Many see this as a desire for 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 prefer that suitor 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, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

A Possibility of Further Turmoil

Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That structure could pave the way for CNN for a future sale. It never ends.

According to Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should disallow both deals.

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

The Core Challenge and a Way Ahead

Regardless of the resolution regarding CNN, the larger issue endures.

“Our current system is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – dating back to 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 will not confirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will be impossible forever.

Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and prohibit the accumulation of media power in very few hands are achievable – they are vital for a robust democracy.

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