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This past Thursday night, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.

Even though it is by no means a perfect news source, her statement seemed accurate for a lot of people. It is one of the broadcasters where there exists fact-based and generally dependable reporting – especially during crises like the one developing in the vicinity of a New Hampshire storage facility.

A Precarious Situation During a Corporate Battle

Yet the news network, now middle-aged, finds itself in a uncertain situation as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what helps the information-seeking public.

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

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

“It is often framed as a corporate drama with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard said.

The Complicating Factor: Political Influence

The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.

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 clashes with Collins in press briefings.

Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a unsolicited offer.

There is a basis to prefer 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.

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

A Possibility of More Instability

Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That structure could pave the way for CNN for another sale. It never ends.

According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.

“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu recently wrote.

The Core Problem and a Potential Solution

No matter the outcome regarding CNN, the bigger problem remains.

“What we have now is a very anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and new 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 highly improbable now, but that doesn’t mean it will not happen in the future.

Measures that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in too few hands are within reach – they are vital for a healthy democracy.

In the world of media ownership, larger is not superior. And news organizations like CNN must not be pieces in the latest acquisition battle.