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This past Thursday night, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.

Even though it is by no means a flawless news source, her statement resonated for a lot of people. It is one of the outlets where one can locate grounded and largely trustworthy reporting – notably during crises such as the one developing near a New Hampshire storage facility.

A Precarious State During a Corporate Battle

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

Regardless of who wins, the fate 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 deep structural problems with origins in decades of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

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

“It gets presented as a business story with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard said.

The Additional Layer: Political Influence

The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” antagonist.

Think back to 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 CNN needs new ownership. You can read that as ownership that will insulate him from journalistic oversight. 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 Trump-friendly Larry Ellison, one of the world’s richest people.

The company, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.

An Outcome of Further Turmoil

It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s far from a secure position. That arrangement could position CNN for yet another acquisition. It never ends.

According to Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.

“Either merger would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.

The Bigger Issue and a Path Forward

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

“Our current system is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can tackle it.

Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will not happen in the future.

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

Regarding media ownership, larger is not superior. And news organizations like CNN must not be pieces in the most recent merger game.