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This past Thursday night, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

Even though it is by no means a flawless news source, her statement rang true to many. It is one of the organizations where you can find reality-based and generally dependable reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.

A Precarious Situation Amid a High-Stakes Struggle

Yet CNN, now middle-aged, finds itself in a precarious position as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what serves the information-seeking public.

“This is yet another example of the deep structural problems with roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.

“It is often framed as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the common good,” Pickard explained.

The Complicating Factor: Political Influence

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

Recall the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect 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 unsolicited offer.

He has grounds to like that suitor 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.

Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

A Future of Further Turmoil

Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for another sale. The cycle continues.

According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.

“Either merger would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.

The Core Challenge and a Potential Solution

Whatever happens regarding CNN, the underlying crisis persists.

“The present media landscape is a profoundly structure that undermines democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.

Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that should not imply it will not happen in the future.

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

In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be tools in the newest corporate chess match.