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On Thursday evening, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins used social media, noting the confusion and guiding the public to her network’s 9pm newscast.

While the network is hardly a perfect news source, her statement seemed accurate for numerous observers. It stands as one of the broadcasters where you can find grounded and mostly reliable reporting – particularly during breaking news situations such as the one developing near a New Hampshire storage facility.

An Uncertain State During a Business Tug-of-War

But CNN, now middle-aged, finds itself in a vulnerable position as two massive media empires compete for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the future of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.

“Here is one more case of the fundamental flaws with roots in decades of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.

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

The Additional Factor: Donald Trump

This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his main “fake news” foe.

Remember the shouts of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.

Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to like that suitor more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that storied news network.

A Future of Continued Uncertainty

It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s hardly a guarantee of stability. That structure could set up CNN for yet another acquisition. The cycle continues.

In the view of Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that competition laws should block both deals.

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

The Bigger Issue and a Potential Solution

Whatever happens in this situation, the underlying crisis remains.

“The present media landscape is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.

Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.

Measures that support independent news organizations, reinforce local journalism, fund public media, and outlaw the accumulation of media power in too few hands are within reach – they are necessary for a robust democracy.

When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pieces in the most recent merger game.