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This past Thursday night, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.

While it is by no means a impeccable news source, her message rang true for numerous observers. It stands as one of the organizations where there exists reality-based and largely dependable reporting – especially during crises like the one unfolding near a New Hampshire storage facility.

An Uncertain Situation During a Business Struggle

However CNN, now 45 years old, finds itself in a precarious state as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, rather than as a question of what helps the information-seeking public.

“This is yet another example of the fundamental flaws with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.

A Further Factor: Political Influence

This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his primary “fake news” antagonist.

Remember the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension 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 criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a hostile bid.

He has grounds to prefer 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, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Future of Further Uncertainty

Notably, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for a future sale. It never ends.

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

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

The Fundamental Problem and a Potential Solution

Regardless of the resolution with this particular battle, the larger issue remains.

“Our current system is a very anti-democratic system, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.

Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will not happen in the future.

Policies that strengthen independent news organizations, reinforce local journalism, finance public media, and prevent the concentration of media power in very few hands are within reach – they are essential for a robust democracy.

When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the latest merger game.