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This past Thursday night, amid swirling speculation regarding a shooting at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

Even though the network is hardly a perfect news source, her words seemed accurate for numerous observers. It is one of the outlets where you can find grounded and mostly dependable reporting – notably during fast-moving events like the one unfolding near a New Hampshire storage facility.

A Vulnerable Situation During a Corporate Struggle

Yet CNN, now middle-aged, finds itself in a precarious state as two giant media conglomerates battle over ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has turned into a high-risk game of corporate ownership, rather than as a question of what helps the information-seeking public.

“Here is one more case 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 University of Pennsylvania.

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

“It is often framed as a business story with key players as the central actors, but there is scant discussion of the societal benefit,” Pickard added.

A Further Layer: Donald Trump

The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” antagonist.

Remember the cries of “CNN sucks!” at his rallies, his team's disciplinary revocation 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. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to favor that suitor 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.

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

A Possibility of Continued Instability

It is important to note, if Netflix wins, CNN and other cable outlets would first be separated into a independent unit. This might be a relief to many at the network, but it’s not exactly a secure position. That structure could set up CNN for yet another acquisition. The cycle continues.

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

“Either merger would be bad for the country, and both should be challenged by anti-trust authorities,” Wu stated.

The Fundamental Issue and a Path Forward

Regardless of the resolution in this situation, the underlying crisis persists.

“Our current system is a highly structure that undermines democracy, but we must resist learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can fix it.

Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will be impossible forever.

Initiatives that support independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in a handful of hands are within reach – they are essential for a robust democracy.

When it comes to media ownership, size does not equal quality. And news organizations such as CNN must not be tools in the newest merger game.