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

Although the network is hardly a impeccable news source, her message resonated to many. It is one of the outlets where you can find reality-based and mostly reliable reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.

An Uncertain Situation During a Corporate Struggle

But the news network, now four and a half decades old, finds itself in a vulnerable position as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what helps the information-seeking public.

“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

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

“The narrative is crafted as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard said.

The Complicating Factor: Political Influence

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

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

Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.

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

Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.

An Outcome of Further Uncertainty

It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for yet another acquisition. It never ends.

If you ask Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.

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

The Bigger Challenge and a Way Ahead

Whatever happens regarding CNN, the larger issue remains.

“What we have now is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can tackle it.

Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will never happen.

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

When it comes to media ownership, size does not equal quality. And news organizations including CNN must not be pawns in the newest corporate chess match.