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Late Thursday, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.

While it is by no means a perfect news source, her message rang true to many. It remains one of the broadcasters where you can find grounded and largely dependable reporting – notably during breaking news situations like the one developing close to a New Hampshire storage facility.

An Uncertain State During a Corporate Battle

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

No matter the result, the destiny of CNN has been drawn into a high-stakes game of business acquisition, instead of as a question of what helps the news-consuming public.

“This is yet another example of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.

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

A Further Layer: Political Influence

This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” adversary.

Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.

He has grounds to like that bidder more. For one thing, it is run by David Ellison, son of the Trump-friendly 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 top editor of that historic news network.

A Future of Further Instability

Notably, if Netflix wins, 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 not exactly a secure position. That structure could set up CNN for yet another acquisition. There is no finish line.

According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.

“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu stated.

The Core Issue and a Potential Solution

Whatever happens regarding CNN, the underlying crisis persists.

“What we have now is a highly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.

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

Initiatives that support independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are achievable – they are essential for a functioning democracy.

In the world of media ownership, size does not equal quality. And news organizations like CNN shouldn’t be pieces in the newest corporate chess match.