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On Thursday evening, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.

Although the network is hardly a flawless news source, her statement rang true to many. It stands as one of the outlets where one can locate reality-based and generally reliable reporting – particularly during fast-moving events like the one taking place close to a New Hampshire storage facility.

An Uncertain Position During a Corporate Struggle

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

Whatever the outcome, the destiny of CNN has been drawn into a major game of corporate ownership, not as a question of what helps the news-consuming public.

“Here is one more case of the fundamental flaws with roots in many years of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The debate 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 corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard said.

The Complicating Layer: Political Influence

The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “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 official meetings.

Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.

Trump has reason to favor that bidder more. For one thing, it is run 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 installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

An Outcome of More Instability

It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for another sale. There is no finish line.

In the view of Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.

“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu stated.

The Fundamental Problem and a Way Ahead

Regardless of the resolution regarding CNN, the bigger problem persists.

“What we have now is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.

Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will be impossible forever.

Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prevent the concentration of media power in very few hands are achievable – they are necessary for a functioning democracy.

Regarding media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the most recent acquisition battle.