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Late Thursday, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.

Even though it is by no means a impeccable news source, her statement rang true for a lot of people. It stands as one of the organizations where you can find fact-based and generally reliable reporting – particularly during crises such as the one unfolding near a New Hampshire storage facility.

A Vulnerable Position During a Business Battle

But CNN, now middle-aged, finds itself in a uncertain situation as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has turned into a major game of business acquisition, rather than as a question of what serves the news-consuming public.

“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

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

“It is often framed as a financial tale with key players as the main characters, but there is very little discussion of the common good,” Pickard explained.

The Additional Factor: Donald Trump

The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” antagonist.

Remember the shouts of “CNN sucks!” at the president’s rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.

Trump now says 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 support Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to like that company 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.

Paramount, owner of CBS News, also recently placed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.

A Possibility of More Turmoil

Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. This might be a welcome development to many at the network, but it’s hardly a secure position. That structure could position CNN for another sale. There is no finish line.

If you ask Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should block both deals.

“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu stated.

The Bigger Issue and a Way Ahead

No matter the outcome with this particular battle, the larger issue persists.

“What we have now is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Regulatory choices – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.

Is this likely in an era where the head of the FCC won’t even affirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will be impossible forever.

Measures that bolster independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are within reach – they are necessary for a functioning democracy.

When it comes to media ownership, size does not equal quality. And news organizations like CNN cannot be tools in the most recent acquisition battle.