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

Although the network is hardly a impeccable news source, her words rang true to many. It remains one of the outlets where one can locate grounded and generally reliable reporting – notably during crises such as the one taking place near a New Hampshire storage facility.

A Vulnerable Situation During a Business Struggle

But CNN, now middle-aged, finds itself in a vulnerable situation as two massive media empires vie for 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 helps the news-consuming public.

“This represents another instance of the deep structural problems with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.

“The narrative is crafted as a financial tale with influential figures as the main characters, but there is scant discussion of the public interest,” Pickard explained.

A Further Element: The Former President

This situation is made more complex by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.

Recall the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a hostile bid.

Trump has reason to prefer that suitor more. For one thing, it is controlled 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 right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.

A Future of Further Instability

Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. That would be a relief to many at the network, but it’s far from a secure position. That setup could set up CNN for another sale. It never ends.

In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.

“Both acquisition attempts would be detrimental to the country, and both should be opposed by the government,” Wu stated.

The Bigger Issue and a Path Forward

Regardless of the resolution with this particular battle, the larger issue endures.

“The present media landscape is a highly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard noted. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can fix it.

Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will be impossible forever.

Initiatives that bolster independent news organizations, aid local journalism, subsidize public media, and prevent the concentration of media power in very few hands are not only possible – they are necessary for a robust democracy.

When it comes to media ownership, size does not equal quality. And news organizations like CNN shouldn’t be tools in the most recent acquisition battle.