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Late Thursday, as rumors swirled about a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.

Even though CNN is certainly not a perfect news source, her words resonated for numerous observers. It stands as one of the broadcasters where one can locate grounded and generally dependable reporting – especially during crises like the one developing close to a New Hampshire storage facility.

An Uncertain Position During a Business Struggle

Yet CNN, now middle-aged, finds itself in a uncertain state as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has turned into a major game of corporate ownership, instead of as a question of what helps the news-consuming public.

“This is yet another example of the deep structural problems with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.

“It is often framed as a business story with key players as the main characters, but there is very little discussion of the common good,” Pickard said.

A Further Factor: Donald Trump

The CNN scenario is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.

Recall the cries of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.

Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to like that company more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

The company, 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

Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for another sale. The cycle continues.

According to Timothy Wu, a great deal of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should block both deals.

“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu recently wrote.

The Core Challenge and a Path Forward

Regardless of the resolution with this particular battle, the larger issue remains.

“What we have now is a very structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can tackle it.

Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.

Initiatives that strengthen independent news organizations, bolster local journalism, finance public media, and outlaw the accumulation of media power in very few hands are achievable – they are vital for a healthy democracy.

In the world of media ownership, larger is not superior. And news organizations such as CNN must not be tools in the most recent merger game.