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On Thursday evening, as rumors swirled regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.

Even though CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It remains one of the outlets where you can find grounded and mostly reliable reporting – notably during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.

An Uncertain Position During a Corporate Struggle

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

Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of corporate ownership, rather than as a question of what serves the information-seeking public.

“This is yet another example of the fundamental flaws with roots in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.

“The narrative is crafted as a business story with powerful individuals as the central actors, but there is scant discussion of the common good,” Pickard said.

The Complicating Factor: The Former President

The CNN scenario is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” antagonist.

Remember the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to prefer that bidder more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.

An Outcome of Further Turmoil

Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a secure position. That structure could set up CNN for another sale. The cycle continues.

In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.

“Both acquisition attempts would be harmful to the country, and both should be contested by regulators,” Wu stated.

The Fundamental Challenge and a Potential Solution

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

“Our current system is a very anti-democratic system, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.

Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.

Measures that strengthen independent news organizations, bolster local journalism, finance public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are essential for a healthy democracy.

Regarding media ownership, bigger isn’t better. And news organizations such as CNN cannot be pawns in the most recent corporate chess match.