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Late Thursday, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

Even though it is by no means a impeccable news source, her statement resonated for a lot of people. It remains one of the broadcasters where you can find reality-based and generally reliable reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.

A Precarious Situation Amid a Business Tug-of-War

But CNN, now middle-aged, finds itself in a vulnerable position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has turned into a high-stakes game of corporate ownership, not as a question of what helps the information-seeking public.

“This represents another instance of the deep structural problems with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.

“It gets presented as a business story with powerful individuals as the main characters, but there is very little discussion of the common good,” Pickard added.

The Additional Layer: The Former President

The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” foe.

Remember 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 CNN needs new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.

He has grounds to like that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

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

A Possibility of Continued Turmoil

Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That setup could position CNN for another sale. The cycle continues.

In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.

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

The Bigger Problem and a Potential Solution

No matter the outcome regarding CNN, the larger issue remains.

“Our current system is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can fix it.

Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.

Initiatives that support independent news organizations, aid local journalism, finance public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are necessary for a healthy democracy.

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