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Late Thursday, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.

Even though the network is hardly a flawless news source, her statement seemed accurate for numerous observers. It remains one of the organizations where one can locate fact-based and mostly dependable reporting – particularly during crises like the one taking place near a New Hampshire storage facility.

An Uncertain State Amid a Business Tug-of-War

Yet CNN, now 45 years old, finds itself in a uncertain state as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.

No matter the result, the fate of CNN has become part of a high-stakes game of corporate ownership, not as a question of what benefits the news-consuming public.

“This is yet another example of the profound systemic issues with origins in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a broader point.

“The narrative is crafted as a corporate drama with powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard added.

A Further Layer: Donald Trump

The CNN scenario is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.

Recall the shouts of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now claims that the network requires new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.

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

Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.

A Possibility of More Turmoil

Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That arrangement could position CNN for another sale. There is no finish line.

According to Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.

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

The Fundamental Problem and a Way Ahead

Regardless of the resolution regarding CNN, the underlying crisis persists.

“What we have now is a profoundly anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard said. Policy decisions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.

Can reform occur in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.

Policies that strengthen independent news organizations, aid local journalism, finance public media, and prevent the consolidation of media power in very few hands are within reach – they are essential for a robust democracy.

When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the newest corporate chess match.