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This past Thursday night, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.

Although it is by no means a flawless news source, her statement seemed accurate for numerous observers. It stands as one of the organizations where you can find reality-based and generally dependable reporting – particularly during crises like the one unfolding close to a New Hampshire storage facility.

A Precarious Situation During a Corporate Tug-of-War

But the news network, now middle-aged, finds itself in a vulnerable situation as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the future of CNN has become part of a high-risk game of corporate ownership, rather than as a question of what helps the news-consuming public.

“This represents another instance of the profound systemic issues with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

The speculation about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.

“The narrative is crafted as a business story with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard added.

The Complicating Element: Donald Trump

The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” antagonist.

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

Trump now asserts 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 appears to favor Paramount Skydance, which has made a unsolicited offer.

There is a basis to prefer that suitor more. For one thing, it is led 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 placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Possibility of Further Uncertainty

It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. This might be a relief to many at the network, but it’s far from a secure position. That structure could position CNN for yet another acquisition. The cycle continues.

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 anti-trust laws should prohibit both deals.

“Either merger would be bad for the country, and both should be contested by regulators,” Wu stated.

The Fundamental Problem and a Path Forward

Regardless of the resolution with this particular battle, the underlying crisis endures.

“Our current system is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.

Can reform occur in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.

Initiatives that support independent news organizations, aid local journalism, finance public media, and prohibit the concentration of media power in very few hands are not only possible – they are essential for a functioning democracy.

When it comes to media ownership, larger is not superior. And news organizations such as CNN cannot be pawns in the most recent acquisition battle.