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Late Thursday, while unconfirmed reports spread regarding the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.

While the network is hardly a flawless news source, her statement resonated to many. It stands as one of the organizations where there exists reality-based and generally dependable reporting – especially during fast-moving events such as the one taking place close to a New Hampshire storage facility.

A Precarious Situation Amid a High-Stakes Tug-of-War

But CNN, now 45 years old, finds itself in a precarious position as two giant media corporations battle over ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has become part of a major game of mergers and acquisitions, not as a question of what benefits the information-seeking public.

“Here is one more case of the fundamental flaws with origins in decades of policy decisions,” said 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 more important point.

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

The Additional Element: Donald Trump

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

Remember the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now says that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to favor that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

A Possibility of Continued Turmoil

It is important to note, if Netflix is successful, 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 far from a safe harbor. That setup could pave the way for CNN for a future sale. The cycle continues.

In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that competition laws should disallow both deals.

“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu stated.

The Bigger Problem and a Potential Solution

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

“Our current system is a very system hostile to democracy, but we must resist learned helplessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this profit-obsessed monster, and different 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? Change is highly improbable now, but that doesn’t mean it will be impossible forever.

Initiatives that bolster independent news organizations, reinforce local journalism, subsidize public media, and prevent the concentration of media power in very few hands are achievable – they are necessary for a robust democracy.

In the world of media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the most recent merger game.