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On Thursday evening, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

Although the network is hardly a perfect news source, her words seemed accurate for numerous observers. It stands as one of the organizations where there exists grounded and mostly dependable reporting – notably during fast-moving events such as the one unfolding close to a New Hampshire storage facility.

An Uncertain State Amid a Business Struggle

However the news network, now middle-aged, finds itself in a uncertain position as two giant media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has become part of a high-risk game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.

“This represents another instance of the deep structural problems with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.

The conjecture about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.

“The narrative is crafted as a financial tale with key players as the main characters, but there is hardly any discussion of the societal benefit,” Pickard added.

The Complicating Element: Political Influence

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

Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now claims that CNN needs new ownership. This can be interpreted as ownership that will protect him from criticism and scrutiny. That is part of why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.

Trump has reason to prefer that company 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, owner of CBS News, also recently appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.

An Outcome of Further Uncertainty

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 not exactly a guarantee of stability. That arrangement could pave the way for CNN for a future sale. The cycle continues.

If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.

“Each proposed deal would be harmful to the country, and both should be contested by regulators,” Wu stated.

The Bigger Issue and a Way Ahead

No matter the outcome in this situation, the bigger problem persists.

“The present media landscape is a profoundly system hostile to democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – originating in 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 won’t even affirm that the agency is independent? Reform is very unlikely now, but that should not imply it will never happen.

Policies that support independent news organizations, aid local journalism, finance public media, and outlaw the consolidation of media power in a handful of hands are not only possible – they are vital for a functioning democracy.

Regarding media ownership, bigger isn’t better. And news organizations such as CNN must not be pawns in the newest merger game.