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On Thursday evening, amid swirling speculation about the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her channel's 9pm newscast.

While it is by no means a flawless news source, her words seemed accurate for numerous observers. It stands as one of the broadcasters where one can locate fact-based and largely reliable reporting – particularly during crises like the one developing in the vicinity of a New Hampshire storage facility.

A Vulnerable Situation During a High-Stakes Battle

But CNN, now middle-aged, finds itself in a precarious state as two massive media corporations vie for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has become part of a major game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.

“This represents another instance of the fundamental flaws with origins 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 which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.

“The narrative is crafted as a financial tale with key players as the main characters, but there is hardly any discussion of the common good,” Pickard explained.

The Complicating Element: Political Influence

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

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

Trump now says that CNN needs new ownership. You can read that as ownership that will protect him from journalistic oversight. That is one reason why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to favor that company more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

The company, parent of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

An Outcome of More Uncertainty

Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s not exactly a secure position. That setup could pave the way for CNN for yet another acquisition. The cycle continues.

If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.

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

The Bigger Problem and a Path Forward

Whatever happens regarding CNN, the larger issue remains.

“What we have now is a very system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.

Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.

Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are not only possible – they are vital for a healthy democracy.

Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be pieces in the newest acquisition battle.