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On Thursday evening, as rumors swirled about the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.

Even though it is by no means a flawless news source, her statement rang true for a lot of people. It is one of the broadcasters where one can locate grounded and mostly reliable reporting – particularly during fast-moving events such as the one developing near a New Hampshire storage facility.

A Vulnerable Position Amid a Business Struggle

However CNN, now middle-aged, finds itself in a uncertain situation as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.

No matter the result, the destiny of CNN has turned into a major game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.

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

The debate about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.

“It gets presented as a business story with influential figures as the main characters, but there is scant discussion of the common good,” Pickard explained.

A Further Factor: Donald Trump

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

Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now claims that the network requires new ownership. This can be interpreted as ownership that will protect him from negative coverage and examination. That is part of why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.

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

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

A Possibility of More Instability

It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s hardly a secure position. That setup could set up CNN for yet another acquisition. There is no finish line.

According to Timothy Wu, much of this is against the law, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should prohibit both deals.

“Each proposed deal would be detrimental to the country, and both should be contested by regulators,” Wu argued.

The Core Issue and a Path Forward

Whatever happens with this particular battle, the underlying crisis endures.

“Our current system is a profoundly anti-democratic system, but we must resist learned helplessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can address it.

Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is very unlikely now, but that doesn’t mean it will never happen.

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

When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be tools in the most recent merger game.