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On Thursday evening, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.

Even though it is by no means a flawless news source, her message resonated to many. It stands as one of the broadcasters where one can locate fact-based and generally trustworthy reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.

An Uncertain Position During a Business Battle

But CNN, now 45 years old, finds itself in a precarious situation as two huge media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has become part of a high-risk game of business acquisition, instead of as a question of what helps the news-consuming public.

“Here is one more case of the fundamental flaws with roots in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.

“The narrative is crafted as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard added.

The Complicating Layer: The Former President

This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” adversary.

Think back to the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now asserts that CNN needs new ownership. You can read that as ownership that will shield him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a unsolicited offer.

There is a basis to favor that suitor more. For one thing, it is run 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 editor-in-chief of that storied news network.

An Outcome of Further Turmoil

Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. That would be a welcome development to many at the network, but it’s far from a secure position. That structure could position CNN for a future sale. The cycle continues.

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

“Both acquisition attempts would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.

The Fundamental Problem and a Potential Solution

No matter the outcome in this situation, the bigger problem endures.

“The present media landscape is a very structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.

Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will be impossible forever.

Initiatives that strengthen independent news organizations, reinforce local journalism, finance public media, and outlaw the concentration of media power in too few hands are within reach – they are vital for a robust democracy.

When it comes to media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the newest acquisition battle.