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Late Thursday, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

While the network is hardly a perfect news source, her statement seemed accurate for numerous observers. It stands as one of the outlets where one can locate grounded and generally dependable reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.

A Precarious Situation Amid a High-Stakes Tug-of-War

However CNN, now middle-aged, finds itself in a precarious situation as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what serves the information-seeking public.

“Here is one more case of the profound systemic issues with roots in decades of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.

“The narrative is crafted as a business story with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard said.

The Complicating Factor: Donald Trump

This situation is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” antagonist.

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

Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to prefer 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.

The company, owner 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 Instability

It is important to note, if Netflix is successful, 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 not exactly a guarantee of stability. That setup could pave the way for CNN for another sale. It never ends.

According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.

“Either merger would be bad for the country, and both should be contested by the government,” Wu stated.

The Fundamental Problem and a Potential Solution

No matter the outcome regarding CNN, the larger issue endures.

“What we have now is a profoundly structure that undermines democracy, but we ought not succumb to learned helplessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can fix 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 should not imply it will not happen in the future.

Policies that support independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are vital for a robust democracy.

Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the latest acquisition battle.