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On Thursday evening, amid swirling speculation about an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

Although it is by no means a impeccable news source, her statement seemed accurate for a lot of people. It is one of the broadcasters where you can find grounded and largely dependable reporting – especially during breaking news situations such as the one unfolding near a New Hampshire storage facility.

A Vulnerable Situation During a Business Tug-of-War

But the news network, now four and a half decades old, finds itself in a vulnerable state as two massive media empires battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has become part of a major game of corporate ownership, not as a question of what serves the news-consuming public.

“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.

“It gets presented as a financial tale with key players as the protagonists, but there is hardly any discussion of the societal benefit,” Pickard added.

The Additional Factor: Political Influence

This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.

Remember 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 claims that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason 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 suitor more. For one thing, it is led by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

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

A Future of More Turmoil

Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. This might be a relief to many at the network, but it’s hardly a secure position. That setup could pave the way for CNN for another sale. The cycle continues.

In the view of Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.

“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.

The Core Problem and a Potential Solution

Whatever happens regarding CNN, the underlying crisis persists.

“What we have now is a highly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.

Will that happen in an era where the head of the FCC won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.

Policies that strengthen independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in a handful of 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 including CNN shouldn’t be pieces in the latest merger game.