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On Thursday evening, while unconfirmed reports spread concerning an incident at Brown University, CNN’s Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

Even though CNN is certainly not a flawless news source, her words rang true to many. It remains one of the broadcasters where there exists reality-based and largely dependable reporting – especially during crises like the one taking place in the vicinity of a New Hampshire storage facility.

A Vulnerable Position During a Business Tug-of-War

However CNN, now four and a half decades old, finds itself in a vulnerable position as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the future of CNN has become part of a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the information-seeking public.

“This represents another instance of the fundamental flaws with roots in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

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

“The narrative is crafted as a financial tale with powerful individuals as the protagonists, but there is hardly any discussion of the public interest,” Pickard explained.

A Further Factor: Political Influence

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

Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is one reason why he seems to support Paramount Skydance, which has made a hostile bid.

There is a basis to like that company 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, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.

A Possibility of Further Instability

Notably, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. This might be a welcome development to many at the network, but it’s not exactly a safe harbor. That arrangement could pave the way for CNN for a future sale. There is no finish line.

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

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

The Fundamental Issue and a Path Forward

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

“What we have now is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to build this profit-obsessed monster, and revised policy decisions can address it.

Can reform occur 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.

Policies that bolster independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.

When it comes to media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the latest corporate chess match.