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On Thursday evening, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.

Although it is by no means a flawless news source, her words seemed accurate to many. It is one of the organizations where there exists grounded and largely dependable reporting – notably during fast-moving events like the one taking place in the vicinity of a New Hampshire storage facility.

An Uncertain State Amid a Corporate Battle

But CNN, now four and a half decades old, finds itself in a precarious position as two huge media corporations vie for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has been drawn into a high-risk game of corporate ownership, instead of as a question of what benefits the news-consuming public.

“This represents another instance of the deep structural problems with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.

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

“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard added.

A Further Layer: The Former President

This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.

Remember the cries of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now says that CNN needs new ownership. This can be interpreted as ownership that will insulate him from negative coverage and examination. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.

Trump has reason to like that bidder more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

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

A Possibility of Continued Turmoil

Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a safe harbor. That structure could set up CNN for yet another acquisition. The cycle continues.

If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.

“Each proposed deal would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.

The Bigger Issue and a Path Forward

Regardless of the resolution with this particular battle, the underlying crisis persists.

“Our current system is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different 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 very unlikely now, but that should not imply it will be impossible forever.

Measures that support independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in very few hands are achievable – they are necessary for a functioning democracy.

In the world of media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the latest acquisition battle.