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On Thursday evening, as rumors swirled regarding 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.

Even though CNN is certainly not a flawless news source, her statement seemed accurate to many. It is one of the outlets where one can locate grounded and mostly reliable reporting – particularly during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.

A Precarious State During a Corporate Battle

Yet CNN, now middle-aged, finds itself in a precarious position as two huge media corporations 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 benefits the news-consuming public.

“This is yet another example of the deep structural problems with roots in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.

The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“The narrative is crafted as a corporate drama with key players as the central actors, but there is scant discussion of the public interest,” Pickard explained.

A Further Factor: The Former President

This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” antagonist.

Recall the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now says that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to favor that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

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

An Outcome of Continued Turmoil

Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a secure position. That structure could position CNN for yet another acquisition. There is no finish line.

According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.

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

The Core Issue and a Way Ahead

Whatever happens regarding CNN, the bigger problem remains.

“The present media landscape is a profoundly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can tackle it.

Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.

Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and prevent the concentration of media power in too few hands are not only possible – they are essential for a robust democracy.

In the world of media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the newest corporate chess match.