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This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.

Even though CNN is certainly not a perfect news source, her statement seemed accurate to many. It is one of the organizations where one can locate fact-based and generally dependable reporting – particularly during crises such as the one developing in the vicinity of a New Hampshire storage facility.

A Vulnerable State Amid a Business Struggle

But CNN, now 45 years old, finds itself in a precarious state as two massive media corporations compete for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the future of CNN has become part of a high-risk game of business acquisition, rather than as a question of what serves the information-seeking public.

“This represents another instance of the fundamental flaws with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

The conjecture about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a more important point.

“It gets presented as a corporate drama with powerful individuals as the main characters, but there is hardly any discussion of the public interest,” Pickard said.

A Further Factor: Political Influence

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

Think back to the cries of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.

Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a unsolicited offer.

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

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

An Outcome of More Instability

It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a welcome development to many at the network, but it’s hardly a safe harbor. That structure could position CNN for yet another acquisition. There is no finish line.

In the view of Timothy Wu, a lot of this is illegal, anyway. The well-known analyst of big tech’s dominance recently argued that competition laws should prohibit both deals.

“Either merger would be harmful to the country, and both should be opposed by anti-trust authorities,” Wu stated.

The Fundamental Issue and a Way Ahead

No matter the outcome in this situation, the larger issue persists.

“Our current system is a highly anti-democratic system, but we ought not succumb to learned helplessness,” Pickard said. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.

Will that happen in an era where the Federal Communications Commission chair will not confirm that the agency is independent? Overhaul is a distant prospect now, but that is not to say it will never happen.

Policies that strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in very few hands are within reach – they are vital for a robust democracy.

Regarding media ownership, larger is not superior. And news organizations like CNN shouldn’t be pieces in the latest acquisition battle.