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

Even though CNN is certainly not a flawless news source, her statement seemed accurate for numerous observers. It stands as one of the organizations where you can find fact-based and largely reliable reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.

A Vulnerable Situation During a Corporate Battle

Yet CNN, now four and a half decades old, finds itself in a uncertain situation as two massive media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what benefits the news-consuming public.

“This represents another instance of the deep structural problems with roots in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.

“It gets presented as a business story with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard said.

A Further Layer: Donald Trump

This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” antagonist.

Recall the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.

Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.

There is a basis to prefer that bidder 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 conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.

A Future of More Uncertainty

Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s far from a secure position. That structure could pave the way for CNN for another sale. There is no finish line.

According to Timothy Wu, a great deal of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.

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

The Fundamental Challenge and a Path Forward

Regardless of the resolution with this particular battle, the larger issue endures.

“The present media landscape is a profoundly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.

Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.

Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are achievable – they are vital for a healthy democracy.

In the world of media ownership, larger is not superior. And news organizations such as CNN cannot be pieces in the newest acquisition battle.