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This past Thursday night, as rumors swirled regarding the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.

While CNN is certainly not a perfect news source, her message seemed accurate for numerous observers. It is one of the organizations where one can locate reality-based and generally trustworthy reporting – especially during crises such as the one unfolding near a New Hampshire storage facility.

A Vulnerable Situation During a High-Stakes Struggle

But the news network, now 45 years old, finds itself in a uncertain state as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has been drawn into a major game of corporate ownership, instead of as a question of what serves the information-seeking public.

“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It gets presented as a business story with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard explained.

A Further Factor: Political Influence

The CNN scenario is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.

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

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.

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

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

An Outcome of Continued Turmoil

Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for yet another acquisition. It never ends.

According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should disallow both deals.

“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu recently wrote.

The Core Challenge and a Potential Solution

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

“The present media landscape is a very structure that undermines democracy, but we must resist learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.

Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.

Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are vital for a robust democracy.

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