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Late Thursday, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her channel's 9pm newscast.

Even though it is by no means a flawless news source, her message seemed accurate to many. It remains one of the broadcasters where one can locate grounded and largely trustworthy reporting – especially during crises like the one developing in the vicinity of a New Hampshire storage facility.

An Uncertain Situation Amid a Corporate Tug-of-War

But CNN, now 45 years old, finds itself in a uncertain position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the future of CNN has turned into a high-risk game of corporate ownership, instead of as a question of what helps the information-seeking public.

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

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

“The narrative is crafted as a corporate drama with key players as the main characters, but there is scant discussion of the common good,” Pickard explained.

A Further Factor: Political Influence

The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” foe.

Think back to the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from journalistic oversight. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.

Trump has reason to prefer that suitor more. For one thing, it is run 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 right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.

A Possibility of Continued Turmoil

It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That arrangement could set up CNN for another sale. There is no finish line.

If you ask Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.

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

The Core Issue and a Potential Solution

Whatever happens regarding CNN, the bigger problem persists.

“The present media landscape is a very anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.

Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is highly improbable now, but that should not imply it will never happen.

Policies that support independent news organizations, reinforce local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are achievable – they are necessary for a functioning democracy.

When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pieces in the newest merger game.