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This past Thursday night, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.

Even though CNN is certainly not a perfect news source, her statement rang true to many. It stands as one of the broadcasters where there exists reality-based and generally trustworthy reporting – notably during crises such as the one unfolding close to a New Hampshire storage facility.

An Uncertain Position Amid a High-Stakes Battle

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

Whatever the outcome, the destiny of CNN has turned into a major game of corporate ownership, not as a question of what benefits the information-seeking public.

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

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

“It is often framed as a business story with powerful individuals as the protagonists, but there is hardly any discussion of the common good,” Pickard said.

A Further Element: Donald Trump

This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.

Recall the chants of “CNN sucks!” at the president’s rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.

Trump now asserts that CNN needs new ownership. You can read that as ownership that will protect him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.

He has grounds to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

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

An Outcome of More Uncertainty

Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s far from a secure position. That structure could position CNN for a future sale. It never ends.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.

“Each proposed deal would be bad for the country, and both should be opposed by regulators,” Wu stated.

The Bigger Challenge and a Potential Solution

Whatever happens regarding CNN, the larger issue endures.

“Our current system is a profoundly 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 hyper-commercialized monster, and revised policy decisions can fix it.

Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is a distant prospect now, but that doesn’t mean it will not happen in the future.

Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and prevent the consolidation of media power in too few hands are within reach – they are essential for a robust democracy.

When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be pawns in the newest corporate chess match.