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On Thursday evening, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.

Although it is by no means a impeccable news source, her statement resonated to many. It is one of the organizations where one can locate grounded and generally trustworthy reporting – particularly during fast-moving events such as the one taking place near a New Hampshire storage facility.

An Uncertain Position During a High-Stakes Battle

However CNN, now middle-aged, finds itself in a vulnerable state as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.

No matter the result, the future of CNN has turned into a high-risk game of business acquisition, instead of as a question of what serves the news-consuming public.

“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

The debate about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – fails to grasp a larger point.

“The narrative is crafted as a business story with powerful individuals as the main characters, but there is very little discussion of the public interest,” Pickard said.

A Further Layer: Political Influence

The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.

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

Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to favor Paramount Skydance, which has made a hostile bid.

Trump has reason to prefer that company more. For one thing, it is controlled by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.

An Outcome of More Uncertainty

Significantly, if Netflix is successful, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s hardly a guarantee of stability. That arrangement could position CNN for a future sale. The cycle continues.

According to Timothy Wu, a lot of this is illegal, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should prohibit both deals.

“Either merger would be bad for the country, and both should be contested by regulators,” Wu stated.

The Core Problem and a Potential Solution

Regardless of the resolution in this situation, the underlying crisis endures.

“The present media landscape is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard said. Policy decisions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.

Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that should not imply it will never happen.

Policies that bolster independent news organizations, bolster local journalism, fund public media, and prohibit the accumulation of media power in very few hands are within reach – they are necessary for a healthy democracy.

In the world of media ownership, larger is not superior. And news organizations including CNN cannot be tools in the most recent acquisition battle.