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This past Thursday night, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.

While it is by no means a impeccable news source, her statement resonated for numerous observers. It stands as one of the outlets where you can find reality-based and mostly trustworthy reporting – notably during crises like the one taking place in the vicinity of a New Hampshire storage facility.

A Precarious Position Amid a Corporate Tug-of-War

However the news network, now 45 years old, finds itself in a uncertain state as two massive media empires battle over ownership of its parent company, Warner Bros Discovery.

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

“Here is one more case of the profound systemic issues with roots in decades of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses 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: Donald Trump

The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” foe.

Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to like that suitor more. For one thing, it is controlled 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 placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

An Outcome of More Instability

It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a standalone company. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for a future sale. The cycle continues.

According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that anti-trust laws should block both deals.

“Each proposed deal would be harmful to the country, and both should be opposed by regulators,” Wu stated.

The Fundamental Issue and a Way Ahead

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

“What we have now is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can tackle 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.

Measures that bolster independent news organizations, reinforce local journalism, finance public media, and outlaw the accumulation of media power in very few hands are achievable – they are essential for a robust democracy.

Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the latest corporate chess match.