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Late Thursday, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

Even though CNN is certainly not a impeccable news source, her message seemed accurate for numerous observers. It is one of the outlets where there exists reality-based and generally reliable reporting – especially during breaking news situations such as the one taking place close to a New Hampshire storage facility.

An Uncertain Situation During a Corporate Struggle

However the news network, now middle-aged, finds itself in a vulnerable position as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.

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

“Here is one more case of the fundamental flaws with roots in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

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

“It is often framed as a financial tale with key players as the main characters, but there is hardly any discussion of the public interest,” Pickard said.

A Further Layer: Political Influence

This situation 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 the president’s rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.

Trump has reason to favor that company 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, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

An Outcome of More Instability

It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. This might be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could position CNN for another sale. There is no finish line.

According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that anti-trust laws should block both deals.

“Each proposed deal would be harmful to the country, and both should be opposed by the government,” Wu stated.

The Bigger Issue and a Path Forward

Whatever happens in this situation, the underlying crisis endures.

“Our current system is a very system hostile to democracy, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to create this overly commercial monster, and revised policy decisions can address it.

Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will not happen in the future.

Measures that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in too few hands are achievable – they are essential for a healthy democracy.

When it comes to media ownership, larger is not superior. And news organizations including CNN cannot be tools in the newest acquisition battle.