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Late Thursday, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.

While CNN is certainly not a perfect news source, her words rang true to many. It stands as one of the broadcasters where you can find grounded and largely reliable reporting – notably during fast-moving events like the one unfolding near a New Hampshire storage facility.

A Vulnerable Situation Amid a Corporate Tug-of-War

Yet the news network, now four and a half decades old, finds itself in a uncertain situation as two massive media empires compete for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has turned into a high-stakes game of business acquisition, not as a question of what benefits the information-seeking public.

“Here is one more case of the profound systemic issues with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The debate about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.

“It is often framed as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard added.

The Additional Factor: The Former President

The CNN scenario is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” adversary.

Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a unsolicited offer.

There is a basis to like that bidder more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.

A Future of More Turmoil

It is important to note, if Netflix is successful, 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 not exactly a safe harbor. That arrangement could set up CNN for another sale. There is no finish line.

According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.

“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu recently wrote.

The Fundamental Problem and a Potential Solution

Whatever happens regarding CNN, the larger issue remains.

“Our current system is a highly system hostile to democracy, but we must resist learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can tackle it.

Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will not happen in the future.

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

In the world of media ownership, larger is not superior. And news organizations including CNN cannot be pawns in the newest merger game.