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Late Thursday, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her network’s 9pm newscast.

Although the network is hardly a flawless news source, her statement resonated for a lot of people. It stands as one of the outlets where one can locate fact-based and generally trustworthy reporting – particularly during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.

An Uncertain State Amid a Corporate Struggle

However the news network, now four and a half decades old, finds itself in a precarious position as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.

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

The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.

“It gets presented as a corporate drama with key players as the main characters, but there is scant discussion of the common good,” Pickard added.

A Further Element: Donald Trump

The network's predicament is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his primary “fake news” foe.

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

Trump now claims that CNN needs new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

Trump has reason to favor that bidder more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

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

A Future of More Turmoil

It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s not exactly a safe harbor. That structure could position CNN for yet another acquisition. The cycle continues.

In the view of Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.

“Each proposed deal would be detrimental to the country, and both should be contested by regulators,” Wu stated.

The Fundamental Problem and a Potential Solution

Regardless of the resolution regarding CNN, the bigger problem remains.

“Our current system is a highly system hostile to democracy, but we shouldn’t give in to learned helplessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized 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 highly improbable now, but that is not to say it will be impossible forever.

Measures that strengthen independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in too few hands are achievable – they are necessary for a healthy democracy.

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