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On Thursday evening, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.

Even though CNN is certainly not a flawless news source, her words resonated for numerous observers. It stands as one of the broadcasters where there exists fact-based and generally dependable reporting – especially during crises like the one developing near a New Hampshire storage facility.

A Vulnerable State Amid a Corporate Struggle

Yet the news network, now middle-aged, finds itself in a precarious situation as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the future of CNN has become part of a major game of corporate ownership, not as a question of what serves the information-seeking public.

“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.

The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.

“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is hardly any 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 consistently labeled as perhaps his primary “fake news” antagonist.

Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now says that CNN needs new ownership. You can read that as 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 hostile bid.

He has grounds to favor that company more. For one thing, it is led 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 placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Future of Continued Instability

It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for a future sale. There is no finish line.

According to Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.

“Either merger would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu stated.

The Bigger Issue and a Potential Solution

Whatever happens with this particular battle, the bigger problem endures.

“What we have now is a highly system hostile to democracy, but we must resist learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.

Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will never happen.

Policies that support independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in a handful of hands are within reach – they are vital for a functioning democracy.

When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be tools in the newest corporate chess match.