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This past Thursday night, amid swirling speculation about a shooting at Brown University, CNN’s Kaitlan Collins took to social media, noting the confusion and directing people to her channel's 9pm newscast.

Even though CNN is certainly not a perfect news source, her words resonated for numerous observers. It stands as one of the organizations where there exists grounded and generally dependable reporting – especially during fast-moving events like the one developing near a New Hampshire storage facility.

A Vulnerable Situation Amid a Business Battle

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

Regardless of who wins, the future of CNN has turned into a high-stakes game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.

“Here is one more case of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The conjecture about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“The narrative is crafted as a financial tale with key players as the main characters, but there is very little discussion of the societal benefit,” Pickard explained.

The Additional Layer: Donald Trump

This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” adversary.

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

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.

Trump has reason to prefer 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, parent of CBS News, also recently placed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Future of Further Instability

Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That structure could set up CNN for yet another acquisition. The cycle continues.

In the view of Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.

“Each proposed deal would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu argued.

The Fundamental Challenge and a Way Ahead

Regardless of the resolution regarding CNN, the larger issue endures.

“The present media landscape is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – originating in the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can fix it.

Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.

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

Regarding media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be tools in the newest acquisition battle.