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This past Thursday night, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.

Even though it is by no means a flawless news source, her words seemed accurate for numerous observers. It is one of the outlets where one can locate fact-based and mostly trustworthy reporting – particularly during crises like the one taking place in the vicinity of a New Hampshire storage facility.

A Vulnerable Position Amid a High-Stakes Struggle

However the news network, now middle-aged, finds itself in a precarious state as two massive media empires vie for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has been drawn into a major game of corporate ownership, not as a question of what benefits the information-seeking public.

“Here is one more case of the fundamental flaws with origins in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.

“It is often framed as a corporate drama with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.

The Additional Layer: The Former President

This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” foe.

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 the network requires new ownership. You can read that as ownership that will protect him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

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

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

An Outcome of Continued Instability

It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could set up CNN for yet another acquisition. It never ends.

According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.

“Both acquisition attempts would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.

The Fundamental Problem and a Way Ahead

Regardless of the resolution with this particular battle, the bigger problem endures.

“Our current system is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can fix it.

Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will never happen.

Measures that support independent news organizations, aid local journalism, finance public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are necessary for a robust democracy.

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