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On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, 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 it is by no means a perfect news source, her message resonated for numerous observers. It remains one of the broadcasters where you can find reality-based and largely dependable reporting – particularly during crises like the one taking place in the vicinity of a New Hampshire storage facility.

An Uncertain Position Amid a High-Stakes Battle

Yet the news network, now four and a half decades old, finds itself in a vulnerable situation as two giant media empires vie for ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what benefits the information-seeking public.

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

The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.

“It gets presented as a corporate drama with influential figures as the central actors, but there is hardly any discussion of the common good,” Pickard added.

A Further Layer: Donald Trump

This situation is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” antagonist.

Recall the chants of “CNN sucks!” at his rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.

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

The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Future of More Instability

Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s far from a safe harbor. That setup could set up CNN for a future sale. It never ends.

In the view of Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.

“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu stated.

The Fundamental Challenge and a Way Ahead

Whatever happens in this situation, the larger issue endures.

“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.

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

Initiatives that bolster independent news organizations, bolster local journalism, subsidize public media, and prevent the concentration of media power in too few hands are within reach – they are vital for a robust democracy.

Regarding media ownership, larger is not superior. And news organizations including CNN must not be pawns in the newest acquisition battle.