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On Thursday evening, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.

Even though the network is hardly a impeccable news source, her words seemed accurate for numerous observers. It is one of the organizations where there exists fact-based and largely trustworthy reporting – especially during crises like the one taking place in the vicinity of a New Hampshire storage facility.

An Uncertain State During a Corporate Tug-of-War

But the news network, now middle-aged, finds itself in a vulnerable state as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has been drawn into a major 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 policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.

“It is often framed as a corporate drama with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.

A Further Element: The Former President

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

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

Trump now asserts that the network requires new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

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

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

A Future of Further Turmoil

Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s not exactly a secure position. That setup could pave the way for CNN for yet another acquisition. It never ends.

According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.

“Each proposed deal would be harmful to the country, and both should be contested by the government,” Wu stated.

The Fundamental Issue and a Path Forward

Regardless of the resolution in this situation, the underlying crisis persists.

“Our current system is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can tackle it.

Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that should not imply it will not happen in the future.

Policies that bolster independent news organizations, bolster local journalism, finance 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.

Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the latest merger game.