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Late Thursday, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

Even though it is by no means a flawless news source, her words seemed accurate to many. It remains one of the organizations where you can find reality-based and largely reliable reporting – especially during breaking news situations such as the one taking place in the vicinity of a New Hampshire storage facility.

A Vulnerable Position Amid a High-Stakes Battle

Yet CNN, now middle-aged, finds itself in a uncertain state as two massive media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has turned into a high-stakes game of corporate ownership, rather than as a question of what benefits the information-seeking public.

“This represents another instance of the profound systemic issues with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It gets presented as a financial tale with key players as the main characters, but there is scant discussion of the public interest,” Pickard added.

The Additional Factor: The Former President

The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.

Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.

He has grounds to favor that suitor more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

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

A Future of Continued Turmoil

It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for another sale. It never ends.

If you ask Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.

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

The Core Problem and a Potential Solution

Regardless of the resolution in this situation, the larger issue remains.

“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this profit-obsessed monster, and different policy decisions can fix it.

Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that doesn’t mean it will never happen.

Initiatives 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.

In the world of media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the newest merger game.