This Power Struggle For the Cable News Network Shows How Dysfunctional US Journalism Has Become.

This past Thursday night, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

Even though the network is hardly a flawless news source, her statement rang true to many. It stands as one of the broadcasters where there exists fact-based and generally reliable reporting – notably during crises such as the one taking place near a New Hampshire storage facility.

A Precarious Situation During a Corporate Tug-of-War

Yet the news network, now 45 years old, finds itself in a precarious state as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what serves the news-consuming public.

“This is yet another example of the deep structural problems with roots in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.

“It gets presented as a business story with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.

The Complicating Element: The Former President

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

Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.

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

The company, owner of CBS News, also recently appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that storied news network.

A Future of Continued Uncertainty

It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for another sale. There is no finish line.

In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.

“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.

The Fundamental Problem and a Path Forward

Whatever happens regarding CNN, the larger issue endures.

“What we have now is a highly anti-democratic system, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.

Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will be impossible forever.

Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are achievable – they are essential for a functioning democracy.

Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be pieces in the latest merger game.