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This past Thursday night, while unconfirmed reports spread regarding a shooting at Brown University, CNN’s Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

Although CNN is certainly not a flawless news source, her message rang true for numerous observers. It remains one of the outlets where there exists fact-based and mostly dependable reporting – notably during fast-moving events such as the one developing close to a New Hampshire storage facility.

A Vulnerable Position Amid a Corporate Battle

But CNN, now middle-aged, finds itself in a vulnerable state as two huge media corporations compete for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny 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.

“Here is one more case of the profound systemic issues with roots in decades of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.

The conjecture about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – overlooks a more important point.

“It gets presented as a financial tale with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.

A Further Layer: The Former President

This situation is complicated by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” adversary.

Recall the chants 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 official meetings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.

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

The company, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.

A Future of Further Turmoil

It is important to note, if Netflix wins, 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 guarantee of stability. That arrangement could pave the way for CNN for another sale. It never ends.

In the view of Timothy Wu, much of this is illegal, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.

“Either merger would be harmful to the country, and both should be challenged by regulators,” Wu recently wrote.

The Core Problem and a Path Forward

Regardless of the resolution in this situation, the larger issue persists.

“The present media landscape is a very anti-democratic system, but we ought not succumb to the belief that change is impossible,” Pickard noted. Government actions – dating back to the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can tackle it.

Can reform occur in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that doesn’t mean it will be impossible forever.

Measures that support independent news organizations, reinforce local journalism, subsidize public media, and prohibit the consolidation of media power in too few hands are not only possible – they are necessary for a healthy democracy.

Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pawns in the newest corporate chess match.