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On Thursday evening, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.

Even though the network is hardly a impeccable news source, her statement rang true for numerous observers. It stands as one of the outlets where you can find reality-based and largely dependable reporting – particularly during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.

A Precarious State Amid a Corporate Struggle

Yet the news network, now four and a half decades old, finds itself in a vulnerable position as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has been drawn into a major game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.

“This represents another instance of the fundamental flaws with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.

The debate 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 powerful individuals as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.

The Complicating Layer: The Former President

This situation is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.

Think back to the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.

Trump now says that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.

Trump has reason to prefer that company 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 installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.

A Future of More Turmoil

Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. It never ends.

According to Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.

“Either merger would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.

The Bigger Issue and a Potential Solution

Regardless of the resolution in this situation, the larger issue remains.

“Our current system is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard noted. Government actions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.

Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is a distant prospect now, but that should not imply it will be impossible forever.

Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are within reach – they are necessary for a robust democracy.

In the world of media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the newest acquisition battle.