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On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.

Even though CNN is certainly not a flawless news source, her statement rang true for a lot of people. It stands as one of the organizations where you can find reality-based and generally trustworthy reporting – notably during breaking news situations such as the one taking place close to a New Hampshire storage facility.

A Precarious Situation During a Business Tug-of-War

Yet the news network, now 45 years old, finds itself in a uncertain state as two giant media corporations compete for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has become part of a high-risk game of corporate ownership, instead of 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 professor of media policy at the Pennsylvania University.

The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It is often framed 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: Donald Trump

This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.

Remember the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

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

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

A Possibility of More Uncertainty

Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.

According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.

“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu argued.

The Fundamental Issue and a Potential Solution

Regardless of the resolution in this situation, the underlying crisis endures.

“What we have now is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.

Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that should not imply it will never happen.

Policies that strengthen independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in too few hands are not only possible – they are vital for a functioning democracy.

When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be tools in the latest corporate chess match.