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Late Thursday, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.

Although CNN is certainly not a flawless news source, her message resonated to many. It stands as one of the broadcasters where one can locate reality-based and largely reliable reporting – particularly during crises like the one developing close to a New Hampshire storage facility.

A Precarious State Amid a Corporate Tug-of-War

However CNN, now four and a half decades old, finds itself in a uncertain position as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of business acquisition, not as a question of what helps the information-seeking public.

“This is yet another example of the fundamental flaws with roots in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

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

“It is often framed as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard said.

A Further Factor: Political Influence

The network's predicament is further muddied by Donald Trump’s opinions about a network he has long portrayed as perhaps his main “fake news” foe.

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

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is a factor in why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.

Trump has reason to like that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.

An Outcome of Further Instability

It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s far from a guarantee of stability. That setup could position CNN for a future sale. There is no finish line.

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

“Both acquisition attempts would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.

The Bigger Challenge and a Way Ahead

Regardless of the resolution with this particular battle, the bigger problem persists.

“Our current system is a very system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can address it.

Is this likely in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will never happen.

Measures that bolster independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are within reach – they are necessary for a healthy democracy.

Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the most recent merger game.