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This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.

While CNN is certainly not a perfect news source, her message seemed accurate to many. It remains one of the organizations where there exists reality-based and largely reliable reporting – particularly during fast-moving events like the one unfolding near a New Hampshire storage facility.

A Vulnerable Situation Amid a Corporate Struggle

But the news network, now middle-aged, finds itself in a uncertain state as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has been drawn into a major game of corporate ownership, instead of as a question of what helps the news-consuming public.

“Here is one more case of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

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

“It gets presented as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard explained.

The Additional Element: Donald Trump

This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” antagonist.

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

Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to like that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

Paramount, parent 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 Possibility of Further Uncertainty

Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That structure could position CNN for yet another acquisition. There is no finish line.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.

“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu stated.

The Bigger Challenge and a Path Forward

No matter the outcome regarding CNN, the bigger problem remains.

“What we have now is a very system hostile to democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can fix it.

Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will be impossible forever.

Policies that strengthen independent news organizations, bolster local journalism, fund public media, and outlaw the concentration of media power in too few hands are not only possible – they are necessary for a robust democracy.

Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the most recent acquisition battle.