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Late Thursday, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

Although the network is hardly a perfect news source, her words seemed accurate for a lot of people. It stands as one of the broadcasters where you can find grounded and generally dependable reporting – notably during breaking news situations such as the one unfolding near a New Hampshire storage facility.

A Vulnerable Position During a High-Stakes Tug-of-War

Yet CNN, now 45 years old, finds itself in a vulnerable position as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has turned into a major game of corporate ownership, instead of 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 governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

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

“The narrative is crafted as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.

The Additional Element: Donald Trump

The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his chief “fake news” antagonist.

Recall the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.

He has grounds to favor that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump 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 lead editor of that storied news network.

An Outcome of More Instability

It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could set up CNN for a future sale. There is no finish line.

According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should block both deals.

“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu argued.

The Bigger Issue and a Path Forward

Regardless of the resolution with this particular battle, the larger issue persists.

“The present media landscape is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can tackle it.

Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that should not imply it will be impossible forever.

Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the accumulation of media power in a handful of hands are within reach – they are essential for a functioning democracy.

When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the latest acquisition battle.