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Late Thursday, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and pointing viewers to her network’s 9pm newscast.

While the network is hardly a impeccable news source, her statement rang true to many. It remains one of the broadcasters where you can find grounded and largely trustworthy reporting – notably during fast-moving events such as the one developing near a New Hampshire storage facility.

An Uncertain Situation Amid a Corporate Battle

But the news network, now 45 years old, finds itself in a precarious situation as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has become part of a high-stakes game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.

“Here is one more case of the fundamental flaws with origins in many years of policy decisions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

The conjecture about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“The narrative is crafted as a business story with powerful individuals as the protagonists, but there is scant discussion of the societal benefit,” Pickard added.

A Further Factor: Political Influence

The network's predicament is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.

Remember the cries of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now claims that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to favor that suitor more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

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

A Possibility of Continued Instability

Significantly, 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 far from a guarantee of stability. That setup could pave the way for CNN for another sale. The cycle continues.

In the view of Timothy Wu, a lot of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.

“Both acquisition attempts would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.

The Core Problem and a Way Ahead

Whatever happens in this situation, the larger issue endures.

“What we have now is a highly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Policy decisions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can tackle it.

Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is highly improbable now, but that doesn’t mean it will not happen in the future.

Measures that strengthen independent news organizations, aid local journalism, subsidize public media, and outlaw the consolidation of media power in very few hands are not only possible – they are vital for a functioning democracy.

Regarding media ownership, size does not equal quality. And news organizations like CNN cannot be pieces in the newest merger game.