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This past Thursday night, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.

While CNN is certainly not a perfect news source, her message rang true for numerous observers. It remains one of the broadcasters where there exists fact-based and generally reliable reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.

A Vulnerable State During a High-Stakes Tug-of-War

However CNN, now four and a half decades old, finds itself in a vulnerable state as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has turned into a high-stakes game of business acquisition, not as a question of what helps the information-seeking public.

“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The debate about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.

“It gets presented as a business story with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard said.

The Complicating Factor: Political Influence

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

Remember the cries of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now claims that CNN needs new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is a factor in why he appears to come down on the side of 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 ally of Trump Larry Ellison, one of the world’s richest people.

The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted 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 carved out into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a safe harbor. That setup could set up CNN for yet another acquisition. The cycle continues.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.

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

The Bigger Challenge and a Potential Solution

No matter the outcome in this situation, the larger issue remains.

“What we have now is a profoundly structure that undermines democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and revised policy decisions can fix it.

Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.

Initiatives that support independent news organizations, reinforce local journalism, fund public media, and outlaw the concentration of media power in a handful of hands are achievable – they are vital for a robust democracy.

In the world of media ownership, size does not equal quality. And news organizations such as CNN cannot be pieces in the newest acquisition battle.