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Late Thursday, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

Although the network is hardly a flawless news source, her words rang true to many. It remains one of the broadcasters where there exists grounded and generally dependable reporting – particularly during breaking news situations like the one unfolding close to a New Hampshire storage facility.

An Uncertain Position During a High-Stakes Struggle

However CNN, now 45 years old, finds itself in a uncertain state as two huge media conglomerates compete for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, 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 is yet another example of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.

“It gets presented as a corporate drama with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard explained.

The Complicating Layer: The Former President

This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” foe.

Recall the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now asserts that the network requires new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.

There is a basis to prefer that company more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

The company, 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 historic news network.

A Future of Further Turmoil

It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for yet another acquisition. It never ends.

In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.

“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu stated.

The Core Issue and a Way Ahead

Whatever happens with this particular battle, the bigger problem endures.

“Our current system is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.

Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.

Measures that support independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in too few hands are within reach – they are necessary for a healthy democracy.

When it comes to media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be pawns in the latest acquisition battle.