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On Thursday evening, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

While it is by no means a perfect news source, her words seemed accurate for numerous observers. It stands as one of the organizations where there exists grounded and mostly trustworthy reporting – especially during fast-moving events such as the one unfolding near a New Hampshire storage facility.

A Vulnerable State During a High-Stakes Tug-of-War

Yet CNN, now 45 years old, finds itself in a precarious position as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what serves the news-consuming public.

“This is yet another example of the fundamental flaws with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Penn.

The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a more important point.

“It is often framed as a financial tale with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard said.

The Complicating Element: The Former President

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

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

Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from journalistic oversight. That is one reason 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 led by David Ellison, son of the Trump-friendly 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 More Turmoil

It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could position CNN for a future sale. It never ends.

According to Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.

“Each proposed deal would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.

The Bigger Problem and a Way Ahead

Whatever happens regarding CNN, the bigger problem remains.

“The present media landscape is a highly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can fix it.

Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.

Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are within reach – they are vital for a healthy democracy.

In the world of media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the latest corporate chess match.