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Late Thursday, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.

While it is by no means a flawless news source, her words rang true for numerous observers. It stands as one of the outlets where you can find reality-based and generally trustworthy reporting – notably during breaking news situations like the one unfolding close to a New Hampshire storage facility.

An Uncertain Situation During a Corporate Struggle

However the news network, now 45 years old, finds itself in a vulnerable state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.

“Here is one more case of the deep structural problems with roots in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The speculation about who will own Warner Bros Discovery – is it going to 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 protagonists, but there is scant discussion of the common good,” Pickard explained.

The Complicating Layer: The Former President

The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” adversary.

Remember the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now says that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to prefer 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.

Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Possibility of Continued Uncertainty

Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should disallow both deals.

“Either merger would be harmful to the country, and both should be contested by regulators,” Wu recently wrote.

The Bigger Issue and a Path Forward

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

“Our current system is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.

Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is very unlikely now, but that is not to say it will be impossible forever.

Policies that strengthen independent news organizations, bolster local journalism, subsidize public media, and prohibit the concentration of media power in too few hands are within reach – they are essential for a healthy democracy.

When it comes to media ownership, larger is not superior. And news organizations like CNN cannot be tools in the newest merger game.