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On Thursday evening, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.

While it is by no means 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 generally dependable reporting – particularly during breaking news situations like the one developing near a New Hampshire storage facility.

An Uncertain State During a Business Tug-of-War

However the news network, now middle-aged, finds itself in a vulnerable position as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.

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

“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

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

“It is often framed as a corporate drama with influential figures as the main characters, but there is scant discussion of the public interest,” Pickard added.

The Additional Element: Donald Trump

The network's predicament is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.

Recall 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 claims that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.

There is a basis to like that suitor 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 conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.

A Possibility of Further Instability

Notably, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could position CNN for a future sale. The cycle continues.

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 stated that competition laws should disallow both deals.

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

The Fundamental Challenge and a Potential Solution

Regardless of the resolution with this particular battle, the larger issue remains.

“Our current system is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.

Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.

Policies that bolster independent news organizations, aid local journalism, fund public media, and prevent the accumulation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.

In the world of media ownership, larger is not superior. And news organizations like CNN cannot be tools in the latest acquisition battle.