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Late Thursday, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins used social media, highlighting the uncertainty and directing people to her channel's 9pm newscast.

While it is by no means a impeccable news source, her words rang true for numerous observers. It stands as one of the organizations where one can locate fact-based and mostly dependable reporting – especially during fast-moving events such as the one taking place near a New Hampshire storage facility.

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

Yet the news network, now 45 years old, finds itself in a vulnerable position as two huge media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has become part of a high-stakes game of corporate ownership, not as a question of what helps the news-consuming public.

“This is yet another example of the profound systemic issues with origins in many years of governmental choices,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Penn.

The conjecture about who will own Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a broader point.

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

A Further Factor: Political Influence

The network's predicament is complicated by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” foe.

Recall the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.

Trump now asserts that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to prefer that suitor more. For one thing, it is controlled by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

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

A Future of Further Uncertainty

Notably, if Netflix prevails, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s hardly a safe harbor. That arrangement could position CNN for yet another acquisition. There is no finish line.

In the view of Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.

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

The Core Problem and a Potential Solution

Whatever happens in this situation, the larger issue persists.

“Our current system is a profoundly structure that undermines democracy, but we ought not succumb to the belief that change is impossible,” Pickard emphasized. Regulatory choices – originating in the 1930s and 1940s – helped to create this overly commercial monster, and different policy decisions can tackle it.

Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will be impossible forever.

Policies that support independent news organizations, aid local journalism, finance public media, and prevent the concentration of media power in very few hands are achievable – they are necessary for a functioning democracy.

Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pawns in the newest merger game.