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Late Thursday, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.

Even though CNN is certainly not a perfect news source, her words resonated for a lot of people. It stands as one of the organizations where you can find grounded and generally dependable reporting – notably during fast-moving events like the one taking place close to a New Hampshire storage facility.

A Vulnerable State During a High-Stakes Struggle

But CNN, now middle-aged, finds itself in a vulnerable state as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the future of CNN has turned into a high-risk game of corporate ownership, not as a question of what helps the information-seeking public.

“Here is one more case of the profound systemic issues with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.

“The narrative is crafted as a financial tale with influential figures as the central actors, but there is very little discussion of the public interest,” Pickard added.

A Further Factor: Political Influence

The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.

Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension 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. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a hostile bid.

He has grounds to prefer that company more. For one thing, it is controlled 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 appointed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Possibility of Continued Turmoil

Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for a future sale. It never ends.

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

“Either merger would be bad for the country, and both should be challenged by the government,” Wu stated.

The Bigger Challenge and a Way Ahead

No matter the outcome regarding CNN, the bigger problem remains.

“Our current system is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to build this overly commercial monster, and revised 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? Reform is very unlikely now, but that is not to say it will not happen in the future.

Policies that bolster independent news organizations, bolster local journalism, subsidize public media, and prohibit the concentration of media power in too few hands are achievable – they are vital for a healthy democracy.

Regarding media ownership, size does not equal quality. And news organizations such as CNN must not be pawns in the most recent merger game.