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On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her network’s 9pm newscast.

Although it is by no means a impeccable news source, her words resonated for numerous observers. It remains one of the broadcasters where one can locate reality-based and generally reliable reporting – especially during breaking news situations such as the one developing close to a New Hampshire storage facility.

An Uncertain Situation During a Corporate Battle

Yet the news network, now middle-aged, finds itself in a precarious position as two huge media empires vie for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the future 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 fundamental flaws with roots in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.

“It is often framed as a corporate drama with influential figures as the central actors, but there is scant discussion of the societal benefit,” Pickard added.

The Additional Element: Donald Trump

This situation is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his chief “fake news” foe.

Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.

There is a basis to favor that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

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

An Outcome of Continued Instability

It is important to note, if Netflix wins, 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 not exactly a guarantee of stability. That structure could position CNN for yet another acquisition. There is no finish line.

If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance stated that competition laws should disallow both deals.

“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.

The Bigger Problem and a Way Ahead

Whatever happens regarding CNN, the larger issue persists.

“Our current system is a very structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can fix it.

Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will be impossible forever.

Measures that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in very few hands are not only possible – they are essential for a healthy democracy.

In the world of media ownership, bigger isn’t better. And news organizations like CNN must not be tools in the most recent merger game.