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This past Thursday night, while unconfirmed reports spread concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.

Even though it is by no means a flawless news source, her statement resonated to many. It remains one of the outlets where you can find reality-based and largely reliable reporting – notably during breaking news situations such as the one taking place close to a New Hampshire storage facility.

A Vulnerable Position Amid a Business Struggle

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

Whatever the outcome, the future of CNN has turned into a high-stakes game of corporate ownership, not as a question of what helps the news-consuming public.

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

The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.

“It gets presented as a financial tale with key players as the central actors, but there is hardly any discussion of the public interest,” Pickard added.

The Complicating Element: The Former President

The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” foe.

Recall the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

The company, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.

A Possibility of Continued Turmoil

It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for another sale. There is no finish line.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.

“Each proposed deal would be detrimental to the country, and both should be challenged by regulators,” Wu argued.

The Bigger Issue and a Way Ahead

Whatever happens regarding CNN, the larger issue persists.

“The present media landscape is a very anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.

Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.

Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are vital for a healthy democracy.

When it comes to media ownership, size does not equal quality. And news organizations like CNN must not be pieces in the most recent acquisition battle.