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On Thursday evening, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.

Even though CNN is certainly not a perfect news source, her message seemed accurate for a lot of people. It remains one of the broadcasters where one can locate fact-based and mostly dependable reporting – particularly during breaking news situations such as the one developing close to a New Hampshire storage facility.

A Vulnerable Position Amid a Corporate Struggle

Yet the news network, now four and a half decades old, finds itself in a precarious position as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the fate of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.

“This represents another instance of the fundamental flaws with origins in many years of governmental choices,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

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

“It is often framed as a corporate drama with key players as the main characters, but there is very little discussion of the public interest,” Pickard explained.

The Additional Layer: Political Influence

This situation is complicated by Donald Trump’s views about a network he has frequently denounced as perhaps his chief “fake news” adversary.

Remember the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is part of why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to favor that company 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, noted for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

A Future of Further Uncertainty

Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a standalone company. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That structure could pave the way for CNN for another sale. There is no finish line.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.

“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu argued.

The Fundamental Challenge and a Path Forward

No matter the outcome regarding CNN, the bigger problem remains.

“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and new policy decisions can address it.

Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that should not imply it will be impossible forever.

Initiatives that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in too few hands are not only possible – they are necessary for a robust democracy.

When it comes to media ownership, bigger isn’t better. And news organizations including CNN must not be pawns in the newest merger game.