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

Even though CNN is certainly not a impeccable news source, her words rang true for numerous observers. It is one of the broadcasters where you can find reality-based and mostly dependable reporting – notably during crises like the one unfolding in the vicinity of a New Hampshire storage facility.

An Uncertain Position During a Business Battle

However the news network, now middle-aged, finds itself in a vulnerable state as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has become part of a major game of corporate ownership, rather than as a question of what helps the news-consuming public.

“Here is one more case of the profound systemic issues with roots in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

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

“The narrative is crafted as a financial tale with influential figures as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard said.

A Further Layer: The Former President

The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his primary “fake news” adversary.

Recall the chants of “CNN sucks!” at his 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 the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to favor that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump 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 editor-in-chief of that storied news network.

A Possibility of Continued Instability

Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.

If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.

“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.

The Core Challenge and a Way Ahead

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

“What we have now is a highly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can address it.

Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.

Policies that strengthen independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are vital for a functioning democracy.

In the world of media ownership, size does not equal quality. And news organizations such as CNN must not be pieces in the latest acquisition battle.