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On Thursday evening, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her channel's 9pm newscast.

Even though the network is hardly a perfect news source, her statement rang true for a lot of people. It remains one of the broadcasters where there exists reality-based and largely trustworthy reporting – notably during fast-moving events like the one taking place close to a New Hampshire storage facility.

An Uncertain Situation During a Corporate Struggle

But CNN, now four and a half decades old, finds itself in a vulnerable state as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has become part of a high-risk game of business acquisition, instead of as a question of what helps the information-seeking public.

“This represents another instance of the profound systemic issues with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

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

“It gets presented as a financial tale with key players as the main characters, but there is scant discussion of the public interest,” Pickard explained.

The Complicating Layer: Political Influence

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

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

Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to prefer that suitor more. For one thing, it is controlled 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

An Outcome of Continued Uncertainty

It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. That would be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could position CNN for another sale. It never ends.

According to Timothy Wu, much of this is illegal, anyway. The well-known analyst 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 contested by anti-trust authorities,” Wu argued.

The Core Problem and a Path Forward

No matter the outcome in this situation, the larger issue remains.

“What we have now is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard emphasized. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can tackle it.

Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is highly improbable now, but that should not imply it will be impossible forever.

Measures that bolster independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in a handful of hands are within reach – they are vital for a robust democracy.

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