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Late Thursday, as rumors swirled concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

Even though it is by no means a perfect news source, her statement resonated for numerous observers. It is one of the outlets where one can locate grounded and largely reliable reporting – notably during fast-moving events such as the one taking place near a New Hampshire storage facility.

A Vulnerable Situation Amid a High-Stakes Struggle

Yet CNN, now middle-aged, finds itself in a uncertain position as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has turned into a high-risk game of corporate ownership, not as a question of what serves the news-consuming public.

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

The debate about who will own 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 very little discussion of the societal benefit,” Pickard added.

A Further Factor: Political Influence

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 Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to like that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

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

An Outcome of Further Instability

It is important to note, if Netflix prevails, 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 hardly a secure position. That setup could position CNN for another sale. The cycle continues.

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 recently argued that competition laws should prohibit both deals.

“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu argued.

The Bigger Problem and a Potential Solution

Whatever happens with this particular battle, the underlying crisis endures.

“Our current system is a highly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.

Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.

Policies that bolster independent news organizations, reinforce local journalism, fund public media, and prevent the consolidation of media power in too few hands are within reach – they are necessary for a robust democracy.

Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be tools in the latest merger game.