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On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.

Although it is by no means a flawless news source, her message resonated for numerous observers. It is one of the broadcasters where one can locate grounded and generally reliable reporting – notably during crises such as the one unfolding near a New Hampshire storage facility.

An Uncertain Situation During a Corporate Struggle

Yet the news network, now middle-aged, finds itself in a vulnerable position as two massive media corporations vie for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the fate of CNN has turned into a major game of corporate ownership, not as a question of what benefits the news-consuming public.

“This represents another instance of the profound systemic issues with roots in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

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

“It is often framed as a business story with powerful individuals as the protagonists, but there is hardly any discussion of the common good,” Pickard said.

A Further Factor: The Former President

The CNN scenario is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” foe.

Remember the cries of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.

Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.

An Outcome of Further Uncertainty

Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for a future sale. It never ends.

If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.

“Either merger would be bad for the country, and both should be contested by the government,” Wu stated.

The Core Problem and a Path Forward

No matter the outcome with this particular battle, the larger issue persists.

“What we have now is a very structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can fix it.

Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.

Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in too few hands are not only possible – they are essential for a healthy democracy.

In the world of media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pawns in the newest acquisition battle.