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On Thursday evening, while unconfirmed reports spread regarding a shooting 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 resonated for numerous observers. It is one of the organizations where there exists fact-based and generally reliable reporting – notably during crises such as the one developing near a New Hampshire storage facility.

A Vulnerable Position Amid a Business Battle

But the news network, now 45 years old, finds itself in a vulnerable situation as two huge media conglomerates vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.

“Here is one more case of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

The speculation about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.

“The narrative is crafted as a corporate drama with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard said.

The Complicating Layer: The Former President

The network's predicament is complicated by Donald Trump’s views about a network he has consistently labeled as perhaps his primary “fake news” foe.

Recall the cries of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now asserts that the network requires new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a hostile bid.

Trump has reason to favor that suitor more. For one thing, it is led 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 conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

A Possibility of Further Turmoil

Notably, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s hardly a secure position. That setup could position CNN for a future sale. There is no finish line.

If you ask Timothy Wu, a great deal of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that competition laws should disallow both deals.

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

The Fundamental Problem and a Potential Solution

Regardless of the resolution with this particular battle, the larger issue persists.

“The present media landscape is a highly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Policy decisions – originating in 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 refuses to acknowledge that the agency is independent? Overhaul is a distant prospect now, but that doesn’t mean it will never happen.

Policies that support independent news organizations, aid local journalism, subsidize public media, and prevent the consolidation of media power in very few hands are achievable – they are essential for a healthy democracy.

Regarding media ownership, larger is not superior. And news organizations like CNN must not be pawns in the latest merger game.