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This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.

While it is by no means a perfect news source, her words seemed accurate for a lot of people. It stands as one of the outlets where you can find grounded and generally dependable reporting – notably during fast-moving events such as the one developing close to a New Hampshire storage facility.

An Uncertain Situation Amid a Business Battle

Yet CNN, now 45 years old, finds itself in a uncertain position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has been drawn into a high-stakes game of corporate ownership, rather than as a question of what benefits the news-consuming public.

“Here is one more case of the deep structural problems with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It is often framed as a business story with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard added.

A Further Layer: Donald Trump

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

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

Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.

He has grounds to favor that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

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

A Future of More Instability

Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s far from a guarantee of stability. That setup could pave the way for CNN for another sale. There is no finish line.

If you ask Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.

“Either merger would be detrimental to the country, and both should be opposed by regulators,” Wu recently wrote.

The Fundamental Issue and a Path Forward

No matter the outcome in this situation, the larger issue remains.

“The present media landscape is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can address it.

Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will not happen in the future.

Measures that bolster independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are within reach – they are necessary for a healthy democracy.

When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the newest corporate chess match.