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This past Thursday night, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

While it is by no means a impeccable news source, her statement resonated for numerous observers. It stands as one of the organizations where one can locate reality-based and mostly reliable reporting – especially during breaking news situations such as the one developing near a New Hampshire storage facility.

A Vulnerable Position During a High-Stakes Battle

But the news network, now middle-aged, finds itself in a vulnerable state as two huge media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has turned into a high-risk game of business acquisition, instead of as a question of what benefits the information-seeking public.

“This represents another instance of the deep structural problems with origins in many years of regulatory actions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.

The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.

“It gets presented as a financial tale with influential figures as the central actors, but there is scant discussion of the common good,” Pickard explained.

The Complicating Element: Political Influence

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

Think back to the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now asserts that the network requires new ownership. You can read that as 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 aggressive takeover attempt.

There is a basis to favor 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, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Future of More Uncertainty

Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s not exactly a safe harbor. That structure could position CNN for yet another acquisition. It never ends.

If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should prohibit both deals.

“Each proposed deal would be detrimental to the country, and both should be opposed by the government,” Wu stated.

The Bigger Issue and a Potential Solution

Whatever happens in this situation, the bigger problem persists.

“Our current system is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can fix it.

Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.

Policies that strengthen independent news organizations, bolster local journalism, subsidize public media, and outlaw the accumulation of media power in very few hands are achievable – they are necessary for a functioning democracy.

In the world of media ownership, size does not equal quality. And news organizations like CNN must not be tools in the newest corporate chess match.