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On Thursday evening, amid swirling speculation concerning a shooting at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

While it is by no means a perfect news source, her statement resonated to many. It stands as one of the broadcasters where you can find reality-based and largely dependable reporting – particularly during breaking news situations like the one unfolding close to a New Hampshire storage facility.

A Precarious Situation Amid a High-Stakes Battle

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

Whatever the outcome, the fate of CNN has turned into a high-risk game of corporate ownership, not as a question of what benefits the information-seeking public.

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

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

“It gets presented as a corporate drama with key players as the main characters, but there is scant discussion of the societal benefit,” Pickard explained.

The Additional Factor: Political Influence

This situation is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.

Recall the cries of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.

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

He has grounds to like that company more. For one thing, it is run 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 conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.

A Future of Further Turmoil

Significantly, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s hardly a secure position. That arrangement could set up CNN for another sale. The cycle continues.

In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.

“Either merger would be bad for the country, and both should be opposed by the government,” Wu stated.

The Core Issue and a Way Ahead

Regardless of the resolution in this situation, the underlying crisis endures.

“The present media landscape is a profoundly system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can address it.

Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Change is very unlikely now, but that should not imply it will never happen.

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

In the world of media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the newest corporate chess match.