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On Thursday evening, while unconfirmed reports spread about a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her network’s 9pm newscast.

While it is by no means a perfect news source, her statement rang true for a lot of people. It remains one of the organizations where there exists grounded and generally dependable reporting – notably during breaking news situations such as the one unfolding close to a New Hampshire storage facility.

A Vulnerable State During a Corporate Tug-of-War

But CNN, now four and a half decades old, finds itself in a uncertain situation as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has turned into a major game of mergers and acquisitions, rather than as a question of what helps the information-seeking public.

“This represents another instance of the fundamental flaws with roots in decades of regulatory actions,” said 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 – could it be Netflix or Paramount Skydance? – misses a larger point.

“It gets presented as a corporate drama with key players as the protagonists, but there is very little discussion of the public interest,” Pickard added.

A Further Layer: The Former President

The CNN scenario is complicated 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 administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he appears to support Paramount Skydance, which has made a unsolicited offer.

Trump has reason to prefer 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.

The company, owner of CBS News, also recently installed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Possibility of More Uncertainty

It is important to note, 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 not exactly a guarantee of stability. That setup could set up CNN for a future sale. There is no finish line.

If you ask Timothy Wu, much of this is against the law, anyway. The prominent critic of big tech’s dominance recently argued that competition laws should disallow both deals.

“Either merger would be harmful to the country, and both should be opposed by regulators,” Wu argued.

The Core Challenge and a Potential Solution

Regardless of the resolution in this situation, the larger issue endures.

“Our current system is a very system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Policy decisions – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and revised policy decisions can tackle it.

Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Reform is a distant prospect now, but that should not imply it will not happen in the future.

Policies that support independent news organizations, aid local journalism, fund public media, and outlaw the accumulation of media power in very few hands are not only possible – they are necessary for a healthy democracy.

Regarding media ownership, size does not equal quality. And news organizations including CNN shouldn’t be tools in the newest merger game.