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On Thursday evening, while unconfirmed reports spread concerning the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.

Although CNN is certainly not a perfect news source, her statement seemed accurate for a lot of people. It is one of the broadcasters where one can locate grounded and generally reliable reporting – particularly during crises such as the one taking place in the vicinity of a New Hampshire storage facility.

A Precarious Situation During a High-Stakes Struggle

However the news network, now middle-aged, finds itself in a precarious situation as two massive media conglomerates compete for ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has been drawn into a high-stakes game of mergers and acquisitions, instead of as a question of what serves the information-seeking public.

“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

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

“It gets presented as a business story with influential figures as the main characters, but there is very little discussion of the societal benefit,” Pickard added.

The Complicating Layer: The Former President

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

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

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

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

Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Future of Further Uncertainty

It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for a future sale. The cycle continues.

According to Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.

“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu recently wrote.

The Fundamental Issue and a Way Ahead

No matter the outcome regarding CNN, the underlying crisis remains.

“What we have now is a highly structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can fix it.

Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is highly improbable now, but that is not to say it will not happen in the future.

Initiatives that bolster independent news organizations, aid local journalism, fund public media, and prohibit the consolidation of media power in very few hands are within reach – they are vital for a functioning democracy.

Regarding media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be tools in the most recent acquisition battle.