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This past Thursday night, while unconfirmed reports spread regarding the Brown University gunman, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

Although it is by no means a impeccable news source, her statement rang true for numerous observers. It remains one of the outlets where there exists grounded and mostly dependable reporting – particularly during crises such as the one developing near a New Hampshire storage facility.

An Uncertain Position Amid a High-Stakes Tug-of-War

However the news network, now four and a half decades old, finds itself in a vulnerable state as two massive media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has become part of a major game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.

“Here is one more case of the profound systemic issues with roots in many years of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a more important point.

“The narrative is crafted as a financial tale with powerful individuals as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.

A Further Factor: Political Influence

This situation is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his primary “fake news” foe.

Remember the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

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

The company, parent of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that storied news network.

An Outcome of Continued Uncertainty

It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s far from a secure position. That setup could set up CNN for another sale. The cycle continues.

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

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

The Fundamental Issue and a Potential Solution

Whatever happens in this situation, the underlying crisis endures.

“What we have now is a highly anti-democratic system, but we must resist learned helplessness,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can address it.

Can reform occur in an era where the head of the FCC won’t even affirm that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.

Policies that strengthen independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in a handful of hands are within reach – they are necessary for a robust democracy.

When it comes to media ownership, size does not equal quality. And news organizations including CNN must not be pawns in the newest acquisition battle.