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This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.

Even though the network is hardly a flawless news source, her message resonated for numerous observers. It stands as one of the organizations where you can find grounded and largely reliable reporting – notably during breaking news situations such as the one unfolding near a New Hampshire storage facility.

A Vulnerable Situation During a Corporate Tug-of-War

But CNN, now middle-aged, finds itself in a vulnerable position as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has turned into a high-risk game of corporate ownership, not as a question of what benefits the news-consuming public.

“This represents another instance of the fundamental flaws with origins in many years of policy decisions,” said 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 larger point.

“It gets presented as a financial tale with influential figures as the central actors, but there is hardly any discussion of the common good,” Pickard explained.

The Complicating Layer: The Former President

This situation is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” foe.

Think back to the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.

Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.

There is a basis to like that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

An Outcome of More Uncertainty

Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That setup could position CNN for a future sale. The cycle continues.

If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should prohibit both deals.

“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu stated.

The Fundamental Problem and a Way Ahead

No matter the outcome in this situation, the bigger problem remains.

“Our current system is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.

Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.

Policies that bolster independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in too few hands are not only possible – they are necessary for a healthy democracy.

Regarding media ownership, bigger isn’t better. And news organizations like CNN cannot be pawns in the most recent corporate chess match.