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Late Thursday, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.

While CNN is certainly not a impeccable news source, her words resonated for a lot of people. It remains one of the broadcasters where there exists reality-based and largely reliable reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.

A Precarious State Amid a Corporate Struggle

But the news network, now middle-aged, finds itself in a uncertain state as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has turned into a major game of corporate ownership, instead of as a question of what helps the information-seeking public.

“This represents another instance of the deep structural problems with roots in decades of governmental choices,” 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? – overlooks a broader point.

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

The Complicating Element: Political Influence

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

Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a unsolicited offer.

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

Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.

An Outcome of Further Turmoil

Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could set up CNN for a future sale. It never ends.

In the view of Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.

“Both acquisition attempts would be bad for the country, and both should be opposed by the government,” Wu stated.

The Core Issue and a Way Ahead

Regardless of the resolution regarding CNN, the larger issue endures.

“The present media landscape is a highly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.

Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will not happen in the future.

Measures that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in a handful of hands are achievable – they are vital for a robust democracy.

In the world of media ownership, larger is not superior. And news organizations including CNN must not be pawns in the most recent acquisition battle.