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This past Thursday night, amid swirling speculation concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.

Even though the network is hardly a perfect news source, her message seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate grounded and generally dependable reporting – especially during breaking news situations such as the one taking place near a New Hampshire storage facility.

An Uncertain Situation During a Corporate Battle

Yet the news network, now middle-aged, finds itself in a vulnerable state as two huge media empires battle over ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has turned into a high-risk game of business acquisition, instead of as a question of what benefits the news-consuming public.

“This is yet another example of the profound systemic issues with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

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

“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is scant discussion of the societal benefit,” Pickard added.

The Additional Layer: Donald Trump

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

Recall the chants 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 the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a hostile bid.

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

Paramount, parent of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

A Future of More Turmoil

Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s far from a safe harbor. That structure could set up CNN for another sale. It never ends.

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

“Both acquisition attempts would be bad for the country, and both should be contested by the government,” Wu recently wrote.

The Fundamental Problem and a Potential Solution

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

“What we have now is a very anti-democratic system, but we must resist learned helplessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.

Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that should not imply it will never happen.

Initiatives that strengthen independent news organizations, reinforce local journalism, fund public media, and prohibit the concentration of media power in very few hands are within reach – they are vital for a healthy democracy.

When it comes to media ownership, larger is not superior. And news organizations such as CNN shouldn’t be tools in the latest acquisition battle.