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On Thursday evening, while unconfirmed reports spread regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

While CNN is certainly not a perfect news source, her statement rang true for a lot of people. It remains one of the outlets where you can find reality-based and generally trustworthy reporting – particularly during crises such as the one unfolding close to a New Hampshire storage facility.

A Vulnerable Situation During a Corporate Struggle

Yet the news network, now 45 years old, finds itself in a precarious position as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.

“Here is one more case of the fundamental flaws with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The debate about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a more important point.

“It is often framed as a financial tale with influential figures as the central actors, but there is very little discussion of the common good,” Pickard said.

The Complicating Layer: Political Influence

This situation is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” antagonist.

Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

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 a factor in why he seems to support Paramount Skydance, which has made a hostile bid.

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

Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Future of Continued Turmoil

It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. There is no finish line.

According to Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should prohibit both deals.

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

The Core Problem and a Path Forward

Whatever happens regarding CNN, the bigger problem endures.

“What we have now is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.

Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that is not to say it will never happen.

Initiatives that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in too few hands are within reach – they are vital for a healthy democracy.

When it comes to media ownership, larger is not superior. And news organizations like CNN must not be pawns in the most recent acquisition battle.