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Late Thursday, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins took to social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.

Although CNN is certainly not a flawless news source, her message resonated for a lot of people. It is one of the outlets where one can locate fact-based and generally trustworthy reporting – notably during crises like the one unfolding near a New Hampshire storage facility.

A Vulnerable Position During a Business Battle

Yet the news network, now 45 years old, finds itself in a uncertain state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.

“This is yet another example of the deep structural problems with origins in decades of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a larger point.

“It is often framed as a corporate drama with key players as the central actors, but there is hardly any discussion of the common good,” Pickard explained.

A Further Layer: Political Influence

The CNN scenario is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.

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

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.

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

Paramount, parent of CBS News, also recently placed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.

A Possibility of More Turmoil

Notably, if Netflix prevails, CNN and other cable outlets would first be carved out into a independent unit. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for yet another acquisition. The cycle continues.

In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance recently argued that anti-trust laws should block both deals.

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

The Bigger Issue and a Way Ahead

No matter the outcome in this situation, the bigger problem persists.

“Our current system is a profoundly system hostile to 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 hyper-commercialized monster, and revised policy decisions can tackle it.

Is this likely in an era where the top communications regulator will not confirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.

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

Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be pieces in the most recent acquisition battle.