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Late Thursday, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

Although the network is hardly a flawless news source, her words rang true to many. It remains one of the organizations where one can locate grounded and generally reliable reporting – especially during fast-moving events like the one taking place near a New Hampshire storage facility.

An Uncertain Situation Amid a High-Stakes Tug-of-War

However CNN, now 45 years old, finds itself in a precarious position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what serves the information-seeking public.

“This is yet another example of the fundamental flaws with origins in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.

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

The Complicating Element: The Former President

This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his chief “fake news” antagonist.

Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.

There is a basis to like that company 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 placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

A Possibility of Further Uncertainty

Notably, if Netflix prevails, 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 hardly a guarantee of stability. That arrangement could set up CNN for a future sale. The cycle continues.

If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.

“Each proposed deal would be detrimental to the country, and both should be challenged by the government,” Wu recently wrote.

The Fundamental Problem and a Potential Solution

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

“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix it.

Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.

Measures that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in very few hands are within reach – they are essential for a robust democracy.

When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the newest acquisition battle.