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On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, the network's Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.

Even though CNN is certainly not a impeccable news source, her message resonated for numerous observers. It is one of the organizations where there exists fact-based and generally dependable reporting – notably during crises such as the one taking place near a New Hampshire storage facility.

A Precarious State Amid a Business Tug-of-War

However the news network, now 45 years old, finds itself in a vulnerable situation as two giant media corporations battle over ownership of its parent company, Warner Bros Discovery.

No matter the result, the destiny of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.

“This represents another instance of the profound systemic issues with roots in many years of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.

“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.

A Further Element: The Former President

The CNN scenario is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his main “fake news” antagonist.

Recall the cries of “CNN sucks!” at the president’s rallies, his administration’s punitive revocation 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 negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a hostile bid.

He has grounds 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, owner of CBS News, also recently placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that historic news network.

A Future of Further Instability

Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could pave the way for CNN for another sale. The cycle continues.

In the view of Timothy Wu, a great deal of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should block both deals.

“Either merger would be bad for the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.

The Core Problem and a Path Forward

Whatever happens with this particular battle, the underlying crisis persists.

“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can tackle it.

Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.

Policies that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the consolidation of media power in a handful of hands are achievable – they are vital for a healthy democracy.

When it comes to media ownership, bigger isn’t better. And news organizations like CNN must not be pawns in the most recent corporate chess match.