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This past Thursday night, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

Even though CNN is certainly not a perfect news source, her statement seemed accurate to many. It stands as one of the outlets where one can locate grounded and generally dependable reporting – notably during crises such as the one developing in the vicinity of a New Hampshire storage facility.

A Vulnerable Position Amid a High-Stakes Struggle

Yet CNN, now 45 years old, finds itself in a uncertain state as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has become part of a high-risk game of corporate ownership, instead of as a question of what benefits the news-consuming public.

“This is yet another example of the fundamental flaws with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

The speculation about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.

“It is often framed as a business story with influential figures as the protagonists, but there is scant discussion of the societal benefit,” Pickard explained.

The Additional Layer: Donald Trump

The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” antagonist.

Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to prefer 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.

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

An Outcome of Continued Instability

Notably, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s not exactly a safe harbor. That arrangement could position CNN for a future sale. It never ends.

If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should disallow both deals.

“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu argued.

The Fundamental Challenge and a Path Forward

No matter the outcome with this particular battle, the underlying crisis remains.

“Our current system is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.

Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.

Initiatives that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the concentration of media power in a handful of hands are not only possible – they are essential for a functioning democracy.

Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the latest merger game.