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On Thursday evening, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.

Even though the network is hardly a flawless news source, her words rang true for a lot of people. It is one of the broadcasters where there exists reality-based and mostly dependable reporting – particularly during breaking news situations like the one developing near a New Hampshire storage facility.

A Vulnerable State During a Corporate Tug-of-War

However CNN, now four and a half decades old, finds itself in a vulnerable situation as two huge media corporations battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has been drawn into a high-risk game of business acquisition, rather than as a question of what helps the information-seeking public.

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

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

“The narrative is crafted as a corporate drama with key players as the central actors, but there is scant discussion of the public interest,” Pickard explained.

The Complicating Layer: Political Influence

The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” antagonist.

Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.

Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a hostile bid.

He has grounds to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Possibility of More Uncertainty

Notably, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s hardly a secure position. That setup could position CNN for yet another acquisition. The cycle continues.

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

“Both acquisition attempts would be harmful to the country, and both should be contested by the government,” Wu stated.

The Core Challenge and a Potential Solution

Whatever happens regarding CNN, the larger issue persists.

“Our current system is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.

Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will be impossible forever.

Policies that support independent news organizations, reinforce local journalism, finance public media, and prevent the accumulation of media power in too few hands are achievable – they are essential for a healthy democracy.

Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the most recent corporate chess match.