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

While CNN is certainly not a flawless news source, her words seemed accurate for a lot of people. It remains one of the broadcasters where you can find fact-based and largely trustworthy reporting – particularly during crises such as the one unfolding near a New Hampshire storage facility.

An Uncertain Situation During a Corporate Tug-of-War

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

No matter the result, the fate of CNN has become part of a high-risk game of business acquisition, not as a question of what benefits the news-consuming public.

“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.

“It is often framed as a financial tale with key players as the central actors, but there is very little discussion of the public interest,” Pickard added.

A Further Layer: The Former President

The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.

Think back to the shouts 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 White House briefings.

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

There is a basis to prefer that suitor more. For one thing, it is controlled 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 editor-in-chief of that historic news network.

A Future of Further Turmoil

Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a secure position. That structure could position CNN for another sale. The cycle continues.

In the view of Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.

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

The Fundamental Problem and a Potential Solution

No matter the outcome with this particular battle, the bigger problem endures.

“The present media landscape is a highly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.

Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.

Policies that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.

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