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Late Thursday, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her network’s 9pm newscast.

Although it is by no means a flawless news source, her words resonated to many. It is one of the outlets where one can locate grounded and generally trustworthy reporting – particularly during crises such as the one developing near a New Hampshire storage facility.

An Uncertain State During a High-Stakes Struggle

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

Whatever the outcome, 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.

“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a larger point.

“It is often framed as a financial tale with powerful individuals as the protagonists, but there is very little discussion of the public interest,” Pickard said.

The Additional Factor: Political Influence

The network's predicament is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his chief “fake news” foe.

Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

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

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

A Future of Continued Turmoil

Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s not exactly a secure position. That arrangement could position CNN for yet another acquisition. There is no finish line.

According to Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.

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

The Fundamental Problem and a Way Ahead

Whatever happens regarding CNN, the underlying crisis endures.

“Our current system is a profoundly system hostile to democracy, but we ought not succumb to a sense of powerlessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this overly commercial monster, and different policy decisions can address it.

Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is highly improbable now, but that is not to say it will be impossible forever.

Initiatives that bolster independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are not only possible – they are necessary for a robust democracy.

In the world of media ownership, larger is not superior. And news organizations including CNN cannot be tools in the latest merger game.