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Late Thursday, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.

While it is by no means a flawless news source, her words seemed accurate for a lot of people. It stands as one of the broadcasters where one can locate grounded and generally dependable reporting – particularly during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.

A Precarious Situation Amid a Business Struggle

Yet the news network, now middle-aged, finds itself in a precarious state as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the future of CNN has turned into a high-stakes game of corporate ownership, rather than as a question of what benefits the news-consuming public.

“This represents another instance of the deep structural problems with origins in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

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

“It gets presented as a business story with powerful individuals as the main characters, but there is very little discussion of the societal benefit,” Pickard said.

The Additional 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 main “fake news” foe.

Recall the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now claims that CNN needs 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 aggressive takeover attempt.

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

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

An Outcome of More Uncertainty

It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That arrangement could pave the way for CNN for another sale. There is no finish line.

If you ask Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.

“Both acquisition attempts would be harmful to the country, and both should be opposed by regulators,” Wu stated.

The Fundamental Problem 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 said. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.

Is this likely 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 doesn’t mean it will never happen.

Policies that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the accumulation of media power in too few hands are within reach – they are essential for a healthy democracy.

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