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

Although CNN is certainly not a impeccable news source, her statement rang true to many. It stands as one of the outlets where there exists reality-based and generally trustworthy reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.

An Uncertain Position During a High-Stakes Battle

However the news network, now middle-aged, finds itself in a precarious situation as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.

“This represents another instance of the fundamental flaws with origins in decades of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.

“It is often framed as a business story with powerful individuals as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.

The Additional Element: Political Influence

The network's predicament is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.

Think back to the cries of “CNN sucks!” at his rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now says that the network requires new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

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

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

A Future of Further Uncertainty

It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That structure could position CNN for another sale. There is no finish line.

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

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

The Core Challenge and a Path Forward

Whatever happens with this particular battle, the larger issue remains.

“The present media landscape is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can fix it.

Will that happen in an era where the top communications regulator will not confirm that the agency is independent? Change is very unlikely now, but that doesn’t mean it will never happen.

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

When it comes to media ownership, larger is not superior. And news organizations including CNN shouldn’t be pieces in the latest merger game.