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Late Thursday, while unconfirmed reports spread concerning the Brown University gunman, the network's Kaitlan Collins took to social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

Even though the network is hardly a impeccable news source, her statement resonated for numerous observers. It is one of the organizations where one can locate grounded and mostly dependable reporting – notably during breaking news situations such as the one taking place close to a New Hampshire storage facility.

An Uncertain State During a Business Battle

But the news network, now 45 years old, finds itself in a uncertain position as two massive media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the fate of CNN has become part of a high-risk game of mergers and acquisitions, rather than 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 governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The conjecture about the future owner of Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a larger point.

“It gets presented as a business story with influential figures as the main characters, but there is very little discussion of the public interest,” Pickard added.

The Additional Element: The Former President

This situation is made more complex by Donald Trump’s longstanding stance about a network he has long portrayed as perhaps his main “fake news” adversary.

Remember the chants of “CNN sucks!” at the president’s rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will shield him from journalistic oversight. That is one reason why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to like that company 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, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that storied news network.

An Outcome of Further Instability

Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a standalone company. That would be a welcome development to many at the network, but it’s hardly a guarantee of stability. That structure could pave the way for CNN for yet another acquisition. There is no finish line.

In the view of Timothy Wu, a lot of this is illegal, anyway. The influential voice of big tech’s dominance stated that competition laws should disallow both deals.

“Each proposed deal would be detrimental to the country, and both should be challenged by regulators,” Wu recently wrote.

The Fundamental Problem and a Path Forward

Regardless of the resolution in this situation, the bigger problem persists.

“The present media landscape is a profoundly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can address it.

Is this likely in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that should not imply it will never happen.

Measures that support independent news organizations, aid local journalism, fund public media, and prevent the concentration of media power in very few hands are within reach – they are essential for a robust democracy.

When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pawns in the most recent corporate chess match.