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This past Thursday night, as rumors swirled about the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.

While the network is hardly a impeccable news source, her words rang true for a lot of people. It stands as one of the outlets where there exists fact-based and largely trustworthy reporting – particularly during crises such as the one taking place near a New Hampshire storage facility.

An Uncertain State During a Corporate Struggle

Yet CNN, now four and a half decades old, finds itself in a vulnerable state as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what benefits the information-seeking public.

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

The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It is often framed as a corporate drama with influential figures as the central actors, but there is hardly any discussion of the societal benefit,” Pickard said.

The Complicating Layer: Political Influence

This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” foe.

Think back to the chants of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in press briefings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to like 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.

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

A Possibility of Continued Uncertainty

Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a welcome development to many at the network, but it’s hardly a secure position. That setup could set up CNN for another sale. It never ends.

According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.

“Either merger would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu stated.

The Fundamental Issue and a Path Forward

Whatever happens with this particular battle, the bigger problem remains.

“What we have now is a profoundly system hostile to democracy, but we must resist learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can address it.

Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.

Policies that support independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in too few hands are not only possible – they are essential for a functioning democracy.

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