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On Thursday evening, amid swirling speculation concerning the Brown University gunman, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.

Even though the network is hardly a impeccable news source, her message rang true for a lot of people. It remains one of the organizations where one can locate fact-based and generally reliable reporting – particularly during breaking news situations such as the one developing near a New Hampshire storage facility.

A Vulnerable State Amid a Corporate Battle

Yet the news network, now 45 years old, finds itself in a vulnerable state as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has turned into a major game of corporate ownership, rather than as a question of what benefits the information-seeking public.

“This is yet another example of the profound systemic issues with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

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

“It is often framed as a business story with influential figures as the main characters, but there is scant discussion of the public interest,” Pickard said.

A Further Factor: Political Influence

The CNN scenario is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.

Remember the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

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 part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to prefer that suitor more. For one thing, it is run 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 installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

An Outcome of Continued Instability

Notably, if Netflix prevails, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could set up CNN for another sale. It never ends.

In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should prohibit both deals.

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

The Bigger Challenge and a Way Ahead

Whatever happens in this situation, the bigger problem remains.

“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can tackle it.

Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will not happen in the future.

Measures that bolster independent news organizations, bolster local journalism, subsidize public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are vital for a robust democracy.

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