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On Thursday evening, amid swirling speculation concerning a shooting at Brown University, the network's Kaitlan Collins took to social media, noting the confusion and pointing viewers to her network’s 9pm newscast.

Even though CNN is certainly not a flawless news source, her statement rang true for a lot of people. It stands as one of the broadcasters where there exists fact-based and largely dependable reporting – especially during crises like the one developing close to a New Hampshire storage facility.

An Uncertain Situation Amid a Corporate Struggle

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

Regardless of who wins, the fate of CNN has turned into a high-stakes game of mergers and acquisitions, not as a question of what benefits the information-seeking public.

“Here is one more case of the fundamental flaws with roots in decades of policy decisions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the University of Pennsylvania.

The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a larger point.

“It gets presented as a corporate drama with influential figures as the protagonists, but there is scant discussion of the common good,” Pickard explained.

A Further Factor: Donald Trump

This situation is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his chief “fake news” antagonist.

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

Trump now says that the network requires new ownership. You can read that as ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

There is a basis to prefer that bidder more. For one thing, it is led by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

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

A Possibility of Continued Uncertainty

It is important to note, if Netflix prevails, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a guarantee of stability. That arrangement could pave the way for CNN for another sale. There is no finish line.

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

“Either merger would be detrimental to the country, and both should be contested by regulators,” Wu recently wrote.

The Bigger Problem and a Potential Solution

Whatever happens regarding CNN, the underlying crisis remains.

“What we have now is a highly anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can fix it.

Will that happen in an era where the head of the FCC refuses to acknowledge that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will never happen.

Initiatives that support independent news organizations, bolster local journalism, finance public media, and prevent the consolidation of media power in too few hands are within reach – they are vital for a healthy democracy.

In the world of media ownership, larger is not superior. And news organizations such as CNN must not be tools in the newest acquisition battle.