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This past Thursday night, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

Even though the network is hardly a perfect news source, her statement seemed accurate to many. It remains one of the organizations where one can locate fact-based and largely trustworthy reporting – notably during crises such as the one taking place near a New Hampshire storage facility.

A Vulnerable Position Amid a High-Stakes Struggle

But the news network, now 45 years old, finds itself in a uncertain position as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has been drawn into a high-risk game of business acquisition, not as a question of what serves the information-seeking public.

“This represents another instance of the fundamental flaws with origins in many years of governmental choices,” 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 – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.

“The narrative is crafted as a financial tale with key players as the main characters, but there is scant discussion of the common good,” Pickard explained.

The Additional Layer: Donald Trump

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

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

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.

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

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

An Outcome of Further Instability

Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s far from a secure position. That arrangement could set up CNN for a future sale. There is no finish line.

In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.

“Either merger would be detrimental to the country, and both should be challenged by the government,” Wu stated.

The Core Issue and a Path Forward

No matter the outcome regarding CNN, the underlying crisis persists.

“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.

Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.

Measures that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the accumulation of media power in very few hands are achievable – they are vital for a robust democracy.

Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pieces in the most recent corporate chess match.