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This past Thursday night, while unconfirmed reports spread concerning an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and pointing viewers to her network’s 9pm newscast.

Although it is by no means a perfect news source, her statement seemed accurate for numerous observers. It remains one of the broadcasters where one can locate reality-based and largely trustworthy reporting – particularly during fast-moving events such as the one developing in the vicinity of a New Hampshire storage facility.

A Precarious Situation Amid a Corporate Struggle

But CNN, now four and a half decades old, finds itself in a precarious state as two huge media conglomerates battle over ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, instead of as a question of what serves the information-seeking public.

“This is yet another example of the deep structural problems with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

The debate about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.

“It is often framed as a corporate drama with key players as the main characters, but there is hardly any discussion of the societal benefit,” Pickard explained.

A Further Element: Donald Trump

The network's predicament is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” adversary.

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

Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from journalistic oversight. That is a factor in why he seems to favor Paramount Skydance, which has made a unsolicited offer.

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

Paramount, owner of CBS News, also recently installed the conservative Bari Weiss, famous for her “anti-woke” beliefs, as the lead editor of that historic news network.

An Outcome of Continued Uncertainty

Notably, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a secure position. That arrangement could set up CNN for yet another acquisition. There is no finish line.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance stated that anti-trust laws should prohibit both deals.

“Both acquisition attempts would be bad for the country, and both should be contested by anti-trust authorities,” Wu stated.

The Fundamental Challenge and a Potential Solution

Whatever happens regarding CNN, the underlying crisis persists.

“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can address it.

Is this likely in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.

Policies that support independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in too few hands are not only possible – they are vital for a robust democracy.

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