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This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.

While it is by no means a impeccable news source, her statement seemed accurate for a lot of people. It stands as one of the broadcasters where there exists grounded and generally trustworthy reporting – particularly during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.

A Precarious Situation During a Corporate Battle

However CNN, now middle-aged, finds itself in a vulnerable state as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the future of CNN has turned into a high-risk game of mergers and acquisitions, not as a question of what serves the news-consuming public.

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

The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a larger point.

“It is often framed as a financial tale with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard said.

A Further Element: Donald Trump

The network's predicament is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” foe.

Think back to the chants of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes 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 negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

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

The company, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

A Future of Further Instability

It is important to note, if Netflix wins, 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 hardly a safe harbor. That setup could set up CNN for a future sale. It never ends.

If you ask Timothy Wu, much of this is illegal, anyway. The well-known analyst of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.

“Either merger would be bad for the country, and both should be opposed by regulators,” Wu argued.

The Fundamental Challenge and a Potential Solution

Whatever happens with this particular battle, the larger issue endures.

“The present media landscape is a profoundly system hostile to democracy, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and new policy decisions can tackle it.

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

Policies that support independent news organizations, reinforce local journalism, finance public media, and outlaw the consolidation of media power in very few hands are not only possible – they are vital for a healthy democracy.

Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be pawns in the latest merger game.