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This past Thursday night, as rumors swirled concerning the Brown University gunman, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.

Even though it is by no means a flawless news source, her message seemed accurate for a lot of people. It stands as one of the outlets where there exists fact-based and largely dependable reporting – especially during fast-moving events like the one unfolding close to a New Hampshire storage facility.

An Uncertain State During a Corporate Struggle

Yet CNN, now 45 years old, finds itself in a vulnerable state as two massive media corporations battle over ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has become part of a high-risk game of business acquisition, rather than as a question of what serves the information-seeking public.

“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

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

“It gets presented as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard added.

A Further Element: The Former President

The network's predicament is made more complex by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” antagonist.

Recall the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.

There is a basis to favor that company more. For one thing, it is run 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 right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that historic news network.

An Outcome of Further Instability

Notably, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for yet another acquisition. The cycle continues.

According to Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.

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

The Bigger Problem and a Path Forward

No matter the outcome with this particular battle, the larger issue endures.

“Our current system is a very system hostile to democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different policy decisions can tackle it.

Can reform occur in an era where the head of the FCC will not confirm that the agency is independent? Reform is highly improbable now, but that is not to say it will not happen in the future.

Policies that strengthen independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.

Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the most recent merger game.