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This past Thursday night, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.

While CNN is certainly not a flawless news source, her message seemed accurate to many. It stands as one of the organizations where one can locate grounded and largely reliable reporting – notably during crises like the one taking place in the vicinity of a New Hampshire storage facility.

An Uncertain Position During a High-Stakes Struggle

Yet CNN, now middle-aged, finds itself in a uncertain state as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what serves the information-seeking public.

“This represents another instance of the deep structural problems with origins in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“The narrative is crafted as a business story with key players as the protagonists, but there is scant discussion of the common good,” Pickard explained.

The Complicating Layer: Political Influence

The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.

Remember the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.

Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to favor that bidder more. For one thing, it is led 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

A Future of Continued Turmoil

It is important to note, if Netflix is successful, 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 not exactly a safe harbor. That structure could pave the way for CNN for yet another acquisition. There is no finish line.

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

“Each proposed deal would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.

The Core Issue and a Way Ahead

No matter the outcome in this situation, the bigger problem persists.

“What we have now is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.

Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that is not to say it will never happen.

Measures that support independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are achievable – they are essential for a robust democracy.

When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pieces in the most recent corporate chess match.