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This past Thursday night, while unconfirmed reports spread about an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.

Even though CNN is certainly not a impeccable news source, her message resonated for numerous observers. It is one of the broadcasters where you can find fact-based and mostly trustworthy reporting – particularly during crises like the one taking place in the vicinity of a New Hampshire storage facility.

A Precarious State Amid a Corporate Tug-of-War

Yet the news network, now four and a half decades old, finds itself in a uncertain situation as two giant media corporations compete for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has been drawn into a major game of corporate ownership, not as a question of what helps the news-consuming public.

“Here is one more case of the deep structural problems with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.

“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard added.

The Additional Element: Political Influence

The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” foe.

Recall the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.

There is a basis to like that suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

The company, parent of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.

An Outcome of Further Turmoil

Notably, if Netflix is successful, 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 setup could set up CNN for another sale. There is no finish line.

In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should disallow both deals.

“Either merger would be harmful to the country, and both should be contested by the government,” Wu recently wrote.

The Fundamental Problem and a Potential Solution

No matter the outcome regarding CNN, the underlying crisis remains.

“The present media landscape is a very anti-democratic system, but we must resist learned helplessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can tackle it.

Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.

Measures that bolster independent news organizations, bolster local journalism, fund public media, and prevent the consolidation of media power in too few hands are achievable – they are essential for a robust democracy.

Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the most recent corporate chess match.