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Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.

While it is by no means a flawless news source, her message rang true for numerous observers. It is one of the broadcasters where one can locate fact-based and generally reliable reporting – especially during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.

An Uncertain Situation Amid a Business Tug-of-War

Yet the news network, now four and a half decades old, finds itself in a uncertain state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has been drawn into a major game of corporate ownership, instead of as a question of what benefits the information-seeking public.

“This is yet another example of the profound systemic issues with origins in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

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

“The narrative is crafted as a financial tale with key players as the protagonists, but there is hardly any discussion of the public interest,” Pickard added.

A Further Factor: Donald Trump

The CNN scenario is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” antagonist.

Remember the chants of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.

Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will insulate 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 aggressive takeover attempt.

He has grounds to like that company 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, parent 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 Future of Continued Turmoil

It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for a future sale. It never ends.

If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.

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

The Core Challenge and a Way Ahead

Whatever happens regarding CNN, the bigger problem endures.

“Our current system is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can address it.

Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.

Policies that support independent news organizations, bolster local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are not only possible – they are vital for a robust democracy.

Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be pawns in the most recent merger game.