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This past Thursday night, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.

Although it is by no means a perfect news source, her statement rang true to many. It is one of the organizations where there exists fact-based and largely reliable reporting – particularly during crises such as the one taking place close to a New Hampshire storage facility.

An Uncertain Position Amid a Corporate Battle

However CNN, now 45 years old, finds itself in a vulnerable state as two giant media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the fate of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.

“This represents another instance of the profound systemic issues with roots in decades of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

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

“It gets presented as a business story with powerful individuals as the main characters, but there is scant discussion of the public interest,” Pickard said.

The Complicating Layer: The Former President

The CNN scenario is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” foe.

Remember the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.

Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.

There is a basis to like that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

The company, parent of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.

An Outcome of Further Turmoil

It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for yet another acquisition. 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 recently argued that anti-trust laws should disallow both deals.

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

The Fundamental Challenge and a Path Forward

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

“What we have now is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to build this overly commercial monster, and different policy decisions can fix it.

Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.

Initiatives that support independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in very few hands are not only possible – they are essential for a functioning democracy.

In the world of media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the most recent merger game.