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

Although it is by no means a flawless news source, her message seemed accurate for a lot of people. It remains one of the organizations where there exists fact-based and mostly dependable reporting – especially during crises like the one unfolding near a New Hampshire storage facility.

An Uncertain Position Amid a Corporate Tug-of-War

Yet the news network, now 45 years old, finds itself in a uncertain situation as two giant media empires compete for ownership of its corporate owner, Warner Bros Discovery.

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

“This is yet another example of the profound systemic issues with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

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

“It is often framed as a corporate drama with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard added.

A Further Element: Political Influence

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

Recall the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now says that the network requires new ownership. You can read that as ownership that will shield him from journalistic oversight. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.

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

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

A Possibility of More Instability

Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could position 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 prominent critic of big tech’s dominance stated that competition laws should prohibit both deals.

“Both acquisition attempts would be bad for the country, and both should be opposed by anti-trust authorities,” Wu argued.

The Bigger Problem and a Path Forward

Regardless of the resolution in this situation, the bigger problem endures.

“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new policy decisions can tackle it.

Can reform occur in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that should not imply it will not happen in the future.

Policies that strengthen independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are achievable – they are essential for a healthy democracy.

In the world of media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the most recent corporate chess match.