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Late Thursday, while unconfirmed reports spread regarding a shooting at Brown University, the network's Kaitlan Collins used social media, noting the confusion and pointing viewers to her network’s 9pm newscast.

Even though it is by no means a flawless news source, her statement seemed accurate for a lot of people. It stands as one of the broadcasters where you can find reality-based and generally dependable reporting – notably during fast-moving events like the one unfolding in the vicinity of a New Hampshire storage facility.

A Vulnerable Situation Amid a Corporate Tug-of-War

However the news network, now 45 years old, finds itself in a precarious position as two massive media corporations compete for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has turned into a high-risk game of mergers and acquisitions, instead of as a question of what serves the news-consuming public.

“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Penn.

The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a broader point.

“The narrative is crafted as a business story with key players as the central actors, but there is hardly any discussion of the common good,” Pickard added.

The Complicating Factor: Political Influence

The network's predicament is further muddied by Donald Trump’s opinions about a network he has consistently labeled as perhaps his main “fake news” foe.

Remember the chants of “CNN sucks!” at his rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now says that the network requires new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is a factor in why he appears to support Paramount Skydance, which has made a hostile bid.

There is a basis to like that company more. For one thing, it is led 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 appointed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Possibility of More Instability

Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. Such a move could be a relief to many at the network, but it’s far from a secure position. That setup could pave the way for CNN for another sale. There is no finish line.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.

“Each proposed deal would be harmful to the country, and both should be contested by the government,” Wu stated.

The Fundamental Challenge and a Path Forward

No matter the outcome regarding CNN, the larger issue remains.

“Our current system is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to foster this profit-obsessed monster, and new 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? Change is very unlikely now, but that doesn’t mean it will be impossible forever.

Policies that support independent news organizations, reinforce local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.

Regarding media ownership, larger is not superior. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.