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This past Thursday night, as rumors swirled about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and guiding the public to her channel's 9pm newscast.

While it is by no means a flawless news source, her words seemed accurate for numerous observers. It is one of the organizations where one can locate grounded and mostly reliable reporting – especially during fast-moving events such as the one developing near a New Hampshire storage facility.

A Vulnerable Situation Amid a Corporate Tug-of-War

But CNN, now four and a half decades old, finds itself in a uncertain situation as two huge media conglomerates compete 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 serves the news-consuming public.

“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.

“It is often framed as a corporate drama with powerful individuals as the central actors, but there is very little discussion of the societal benefit,” Pickard added.

The Complicating Factor: Donald Trump

The network's predicament is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” antagonist.

Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.

There is a basis to like that company 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, parent of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that historic news network.

An Outcome of More Uncertainty

Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a guarantee of stability. That arrangement could pave the way for CNN for another sale. It never ends.

If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.

“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu stated.

The Bigger Issue and a Way Ahead

Whatever happens in this situation, the underlying crisis remains.

“The present media landscape is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.

Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will never happen.

Initiatives that support independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in too few hands are not only possible – they are essential for a healthy democracy.

When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the newest merger game.