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Late Thursday, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.

While CNN is certainly not a impeccable news source, her statement seemed accurate for a lot of people. It stands as one of the outlets where there exists reality-based and mostly dependable reporting – particularly during breaking news situations like the one taking place in the vicinity of a New Hampshire storage facility.

An Uncertain Situation Amid a High-Stakes Tug-of-War

But the news network, now 45 years old, finds itself in a vulnerable situation as two giant media empires compete for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has turned 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,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.

“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is scant discussion of the common good,” Pickard said.

The Additional Layer: Donald Trump

This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.

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

Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

Trump has reason to like that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

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

A Future of Further Turmoil

Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s far from a secure position. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.

According to Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.

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

The Bigger Challenge and a Path Forward

No matter the outcome in this situation, the larger issue persists.

“Our current system is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can fix it.

Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.

Initiatives that support independent news organizations, bolster local journalism, finance public media, and outlaw the concentration of media power in a handful of hands are within reach – they are vital for a robust democracy.

Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be tools in the newest acquisition battle.