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Late Thursday, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.

While it is by no means a impeccable news source, her words resonated to many. It stands as one of the organizations where you can find fact-based and largely reliable reporting – notably during fast-moving events such as the one taking place in the vicinity of a New Hampshire storage facility.

A Vulnerable State During a High-Stakes Tug-of-War

However the news network, now 45 years old, finds itself in a uncertain state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the future of CNN has become part of a high-stakes game of mergers and acquisitions, not as a question of what serves the information-seeking public.

“This is yet another example of the deep structural problems with roots in decades of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The speculation about which company will control Warner Bros Discovery – will it be Netflix or Paramount Skydance? – fails to grasp a more important point.

“It is often framed as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the societal benefit,” Pickard explained.

The Complicating Factor: Political Influence

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

Think back to the cries of “CNN sucks!” at Trump's rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now asserts that the network requires new ownership. You can read that as ownership that will insulate him from negative coverage and examination. That is a factor in why he seems to favor Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to prefer 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.

The company, owner of CBS News, also recently appointed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that historic news network.

A Possibility of More Instability

Significantly, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. That would be a relief to many at the network, but it’s not exactly a safe harbor. That structure could position CNN for another sale. There is no finish line.

According to Timothy Wu, a great deal 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.

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

The Bigger Challenge and a Path Forward

Whatever happens with this particular battle, the larger issue endures.

“Our current system is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can address it.

Is this likely in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is highly improbable now, but that should not imply it will never happen.

Initiatives that support independent news organizations, reinforce local journalism, subsidize public media, and prevent the accumulation of media power in a handful of hands are within reach – they are necessary for a functioning democracy.

When it comes to media ownership, larger is not superior. And news organizations including CNN cannot be tools in the latest acquisition battle.