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This past Thursday night, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

Although it is by no means a flawless news source, her message resonated to many. It remains one of the broadcasters where you can find reality-based and mostly trustworthy reporting – notably during breaking news situations such as the one taking place near a New Hampshire storage facility.

A Vulnerable Position During a High-Stakes Struggle

But the news network, now four and a half decades old, finds itself in a uncertain state as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has turned into a high-risk game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.

“This is yet another example of the fundamental flaws with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

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

“It is often framed as a business story with key players as the central actors, but there is very little discussion of the societal benefit,” Pickard added.

The Complicating Element: The Former President

The CNN scenario is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” adversary.

Recall the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to favor that bidder more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

Paramount, owner of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

A Future of Continued Uncertainty

It is important to note, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a welcome development to many at the network, but it’s not exactly a guarantee of stability. That setup could position CNN for a future sale. It never ends.

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

“Either merger would be bad for the country, and both should be contested by the government,” Wu stated.

The Bigger Challenge and a Potential Solution

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

“What we have now is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can fix it.

Can reform occur in an era where the top communications regulator won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will not happen in the future.

Initiatives that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are within reach – they are vital 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 latest acquisition battle.