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On Thursday evening, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.

Even though CNN is certainly not a impeccable news source, her statement resonated for a lot of people. It is one of the outlets where you can find grounded and mostly dependable reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.

A Precarious Situation Amid a High-Stakes Tug-of-War

Yet the news network, now 45 years old, finds itself in a uncertain situation as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has been drawn into a major game of corporate ownership, not as a question of what benefits the news-consuming public.

“This is yet another example of the deep structural problems with roots in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.

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

“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard added.

A Further Element: Political Influence

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

Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now says that the network requires new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in 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 suitor more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

Paramount, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.

A Future of More Turmoil

Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That setup could set up CNN for yet another acquisition. There is no finish line.

If you ask Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.

“Either merger would be detrimental to the country, and both should be opposed by the government,” Wu stated.

The Fundamental Problem and a Potential Solution

Regardless of the resolution with this particular battle, the larger issue remains.

“The present media landscape is a profoundly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can address it.

Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.

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

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