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This past Thursday night, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.

Even though the network is hardly a impeccable news source, her statement seemed accurate to many. It remains one of the organizations where there exists fact-based and generally dependable reporting – notably during fast-moving events such as the one taking place near a New Hampshire storage facility.

A Vulnerable State During a Corporate Tug-of-War

Yet the news network, now 45 years old, finds itself in a vulnerable situation as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has been drawn into a high-risk game of corporate ownership, rather than as a question of what benefits the news-consuming public.

“Here is one more case of the deep structural problems with roots in many years of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It gets presented as a business story with key players as the protagonists, but there is scant discussion of the common good,” Pickard explained.

A Further Element: The Former President

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

Recall the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension 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 protect him from journalistic oversight. That is part of why he appears to support Paramount Skydance, which has made a unsolicited offer.

Trump has reason to favor that company 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, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Possibility of Continued Instability

It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s far from a guarantee of stability. That arrangement could position CNN for another sale. The cycle continues.

If you ask Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.

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

The Bigger Problem and a Potential Solution

Regardless of the resolution with this particular battle, the bigger problem persists.

“What we have now is a highly anti-democratic system, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.

Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will be impossible forever.

Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are within reach – they are vital for a healthy democracy.

When it comes to media ownership, larger is not superior. And news organizations including CNN cannot be pieces in the newest acquisition battle.