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This past Thursday night, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.

While it is by no means a perfect news source, her statement resonated for numerous observers. It remains one of the outlets where one can locate fact-based and generally trustworthy reporting – notably during fast-moving events such as the one developing close to a New Hampshire storage facility.

An Uncertain Position Amid a High-Stakes Tug-of-War

Yet CNN, now four and a half decades old, finds itself in a vulnerable position as two huge media empires battle over ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has become part of a major game of corporate ownership, not as a question of what serves the information-seeking public.

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

The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a broader point.

“It is often framed as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard said.

The Complicating Layer: The Former President

This situation is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.

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

Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to like that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

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

A Possibility of Continued Turmoil

Notably, 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 secure position. That structure could pave the way for CNN for a future sale. It never ends.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.

“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu stated.

The Fundamental Challenge and a Potential Solution

No matter the outcome regarding CNN, the larger issue endures.

“The present media landscape is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.

Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that is not to say it will never happen.

Measures that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.

Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the most recent corporate chess match.