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This past Thursday night, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her channel's 9pm newscast.

Although CNN is certainly not a perfect news source, her statement seemed accurate for numerous observers. It remains one of the organizations where one can locate grounded and largely trustworthy reporting – especially during crises such as the one developing near a New Hampshire storage facility.

A Vulnerable Situation During a Corporate Battle

Yet CNN, now four and a half decades old, finds itself in a precarious state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has turned into a high-risk game of corporate ownership, not as a question of what benefits the news-consuming public.

“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” said 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? – misses a larger point.

“It gets presented as a financial tale with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard added.

The Complicating Layer: Political Influence

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

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

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.

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

Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

An Outcome of Continued Turmoil

Notably, if Netflix is successful, CNN and other cable outlets would first be spun off 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 pave the way for CNN for another sale. The cycle continues.

If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should block both deals.

“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.

The Core Problem and a Way Ahead

Whatever happens regarding CNN, the larger issue persists.

“The present media landscape is a highly anti-democratic system, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different 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? Overhaul is a distant prospect now, but that doesn’t mean it will be impossible forever.

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

In the world of media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the newest merger game.