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

While the network is hardly a perfect news source, her words seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate fact-based and generally dependable reporting – particularly during fast-moving events such as the one taking place close to a New Hampshire storage facility.

A Precarious State During a Business Tug-of-War

But the news network, now 45 years old, finds itself in a uncertain situation as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.

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

“This is yet another example of the profound systemic issues with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a more important point.

“It gets presented as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard added.

The Additional Element: Political Influence

The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.

Think back to the shouts 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 official meetings.

Trump now says that CNN needs new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is part of why he appears to support Paramount Skydance, which has made a hostile bid.

Trump has reason to prefer that company more. For one thing, it is led 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Future of More Instability

Significantly, 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 guarantee of stability. That setup could position CNN for another sale. There is no finish line.

According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.

“Each proposed deal would be harmful to the country, and both should be challenged by the government,” Wu stated.

The Core Issue and a Potential Solution

Whatever happens in this situation, the underlying crisis endures.

“Our current system is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.

Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will not happen in the future.

Measures that strengthen independent news organizations, aid local journalism, finance public media, and prohibit the concentration of media power in too few hands are achievable – they are essential for a robust democracy.

In the world of media ownership, larger is not superior. And news organizations including CNN cannot be tools in the latest corporate chess match.