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This past Thursday night, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.

Although it is by no means a impeccable news source, her message seemed accurate for a lot of people. It stands as one of the broadcasters where one can locate reality-based and mostly reliable reporting – especially during fast-moving events like the one developing in the vicinity of a New Hampshire storage facility.

A Precarious State During a High-Stakes Struggle

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

Whatever the outcome, the future of CNN has become part of a major game of business acquisition, rather than as a question of what helps the news-consuming public.

“This represents another instance of the deep structural problems with origins in decades of regulatory actions,” noted Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

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

“It is often framed as a financial tale with powerful individuals as the protagonists, but there is scant discussion of the public interest,” Pickard explained.

The Complicating Factor: The Former President

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

Think back to the shouts of “CNN sucks!” at Trump's rallies, his team's disciplinary suspension of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now says that the network requires new ownership. You can read that as ownership that will shield him from criticism and scrutiny. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

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

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

A Possibility of Continued Turmoil

It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. That would be a welcome development to many at the network, but it’s hardly a secure position. That structure could pave the way for CNN for yet another acquisition. It never ends.

According to 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 prohibit both deals.

“Both acquisition attempts would be detrimental to the country, and both should be challenged by anti-trust authorities,” Wu argued.

The Fundamental Challenge and a Way Ahead

No matter the outcome regarding CNN, the bigger problem endures.

“What we have now is a very system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.

Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Overhaul is very unlikely now, but that doesn’t mean it will be impossible forever.

Measures that bolster independent news organizations, reinforce local journalism, finance public media, and prohibit the accumulation of media power in very few hands are achievable – they are essential for a functioning democracy.

When it comes to media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pawns in the latest acquisition battle.