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Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her network’s 9pm newscast.

Even though CNN is certainly not a flawless news source, her statement resonated for numerous observers. It remains one of the organizations where there exists grounded and generally dependable reporting – especially during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.

A Vulnerable Position Amid a Business Battle

Yet the news network, now middle-aged, finds itself in a uncertain situation as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.

No matter the result, the destiny of CNN has become part of a high-stakes game of business acquisition, not as a question of what benefits the information-seeking public.

“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

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

“It gets presented as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard said.

The Additional Factor: Donald Trump

The network's predicament is complicated by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.

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. This can be interpreted as ownership that will shield him from negative coverage and examination. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to like that bidder more. For one thing, it is controlled 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.

A Future of Further Instability

Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for yet another acquisition. The cycle continues.

If you ask Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.

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

The Bigger Problem and a Potential Solution

Regardless of the resolution with this particular battle, the larger issue remains.

“What we have now is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can tackle it.

Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will be impossible forever.

Initiatives that support independent news organizations, bolster local journalism, fund public media, and outlaw the consolidation of media power in very few hands are achievable – they are necessary for a healthy democracy.

Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the newest merger game.