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This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.

While CNN is certainly not a impeccable news source, her words seemed accurate to many. It remains one of the outlets where you can find fact-based and mostly reliable reporting – especially during fast-moving events such as the one developing near a New Hampshire storage facility.

A Precarious Position Amid a High-Stakes Struggle

Yet CNN, now middle-aged, finds itself in a uncertain position as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.

No matter the result, the fate of CNN has been drawn into a major game of business acquisition, rather than as a question of what helps the information-seeking public.

“This represents another instance of the deep structural problems with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.

“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard added.

The Additional Element: Political Influence

The network's predicament is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.

Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

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

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.

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

A Future of More Turmoil

It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for yet another acquisition. The cycle continues.

In the view of Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.

“Either merger would be bad for the country, and both should be challenged by the government,” Wu argued.

The Fundamental Issue and a Way Ahead

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

“The present media landscape is a very system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new 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? Reform is a distant prospect now, but that doesn’t mean it will be impossible forever.

Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prohibit the accumulation of media power in very few hands are within reach – they are essential for a functioning democracy.

In the world of media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the latest acquisition battle.