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This past Thursday night, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.

Although it is by no means a perfect news source, her statement resonated for numerous observers. It is one of the organizations where there exists reality-based and largely reliable reporting – particularly during crises like the one taking place close to a New Hampshire storage facility.

A Precarious State Amid a Business Tug-of-War

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

No matter the result, the destiny of CNN has become part of a high-risk game of business acquisition, instead of as a question of what serves the information-seeking public.

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

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

“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the common good,” Pickard explained.

The Additional Layer: Political Influence

The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” foe.

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

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to prefer that bidder 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

A Possibility of Continued Turmoil

It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could pave the way for CNN for a future sale. There is no finish line.

In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.

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

The Bigger Problem and a Potential Solution

Whatever happens regarding CNN, the bigger problem remains.

“Our current system is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.

Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.

Policies that support independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are not only possible – they are essential for a robust democracy.

In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the latest merger game.