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On Thursday evening, while unconfirmed reports spread about an incident at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.

Even though the network is hardly a perfect news source, her statement seemed accurate to many. It stands as one of the outlets where you can find grounded and largely reliable reporting – notably during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.

A Precarious Position Amid a Corporate Tug-of-War

However the news network, now 45 years old, finds itself in a vulnerable state as two huge media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the future of CNN has been drawn into a major game of business acquisition, instead of as a question of what helps the news-consuming public.

“This is yet another example of the deep structural problems with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The speculation about the future owner of Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a broader point.

“It is often framed as a financial tale with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard said.

The Complicating Element: Donald Trump

This situation is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” adversary.

Think back to the chants of “CNN sucks!” at Trump's rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now claims that the network requires new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is a factor in why he appears to favor Paramount Skydance, which has made a unsolicited offer.

He has grounds to favor that bidder 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.

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

An Outcome of More Uncertainty

Significantly, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. That would be a relief to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for another sale. It never ends.

According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently 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 Path Forward

Whatever happens in this situation, the bigger problem persists.

“What we have now is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can tackle it.

Is this likely in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will not happen in the future.

Policies that support independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in a handful of hands are achievable – they are necessary for a functioning democracy.

When it comes to media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the newest merger game.