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This past Thursday night, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.

While CNN is certainly not a flawless news source, her statement seemed accurate for numerous observers. It stands as one of the broadcasters where there exists reality-based and mostly reliable reporting – particularly during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.

A Precarious Situation During a Corporate Battle

But CNN, now middle-aged, finds itself in a vulnerable situation as two massive media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has turned into a high-risk game of business acquisition, instead of as a question of what helps the news-consuming public.

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

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

“It gets presented as a financial tale with key players as the main characters, but there is hardly any discussion of the public interest,” Pickard added.

A Further Layer: Political Influence

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

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

Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

Trump has reason to prefer that company 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Future of Continued Turmoil

Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a secure position. That arrangement could position CNN for another sale. The cycle continues.

If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should block both deals.

“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.

The Core Problem and a Path Forward

No matter the outcome regarding CNN, the larger issue persists.

“What we have now is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can address it.

Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will be impossible forever.

Measures that bolster independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in very few hands are achievable – they are necessary for a healthy democracy.

When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the latest corporate chess match.