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Late Thursday, amid swirling speculation about the Brown University gunman, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

Even though CNN is certainly not a perfect news source, her message resonated to many. It stands as one of the broadcasters where there exists fact-based and generally dependable reporting – notably during breaking news situations such as the one developing in the vicinity of a New Hampshire storage facility.

An Uncertain Position During a High-Stakes Tug-of-War

But the news network, now 45 years old, finds itself in a uncertain situation as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has become part of a high-stakes game of corporate ownership, instead of as a question of what serves the news-consuming public.

“This is yet another example of the fundamental flaws with origins in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a larger point.

“It is often framed as a financial tale with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard said.

The Additional Layer: The Former President

The network's predicament is made more complex by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.

Remember the shouts of “CNN sucks!” at Trump's rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will insulate him from journalistic oversight. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.

He has grounds to prefer that bidder 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 appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.

An Outcome of More Uncertainty

It is important to note, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s far from a secure position. That arrangement could pave the way for CNN for yet another acquisition. There is no finish line.

According to Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.

“Either merger would be bad for the country, and both should be contested by regulators,” Wu recently wrote.

The Fundamental Problem and a Potential Solution

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

“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.

Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will be impossible forever.

Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the concentration of media power in a handful of hands are within reach – they are vital for a functioning democracy.

Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be pawns in the latest corporate chess match.