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On Thursday evening, amid swirling speculation concerning an incident at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.

Although it is by no means a perfect news source, her statement resonated for numerous observers. It stands as one of the outlets where there exists grounded and mostly trustworthy reporting – especially during crises like the one taking place close to a New Hampshire storage facility.

An Uncertain Position Amid a Corporate Tug-of-War

But the news network, now middle-aged, finds itself in a precarious position as two massive media conglomerates battle over ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has been drawn into a major game of mergers and acquisitions, instead of as a question of what helps the news-consuming public.

“Here is one more case of the fundamental flaws with roots in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Pennsylvania University.

The speculation about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – misses a more important point.

“It gets presented as a corporate drama with key players as the central actors, but there is hardly any discussion of the societal benefit,” Pickard added.

A Further Factor: Political Influence

The CNN scenario is further muddied by Donald Trump’s views about a network he has consistently labeled as perhaps his main “fake news” antagonist.

Recall the chants of “CNN sucks!” at his rallies, his team's disciplinary withdrawal of reporter Jim Acosta’s press credentials, or his clashes with Collins in official meetings.

Trump now says that CNN needs new ownership. You can read that as ownership that will insulate him from journalistic oversight. That is a factor in why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

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

The company, parent of CBS News, also recently installed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that historic news network.

A Possibility of Further Uncertainty

It is important to note, if Netflix prevails, CNN and other cable outlets would first be separated into a separate entity. Such a move could be a welcome development to many at the network, but it’s far from a guarantee of stability. That arrangement could set up CNN for yet another acquisition. The cycle continues.

According to Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that competition laws should block both deals.

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

The Core Problem and a Path Forward

No matter the outcome in this situation, the larger issue remains.

“The present media landscape is a very structure that undermines democracy, but we must resist the belief that change is impossible,” Pickard said. Government actions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and different policy decisions can tackle it.

Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is very unlikely now, but that should not imply it will not happen in the future.

Initiatives that strengthen independent news organizations, bolster local journalism, subsidize public media, and outlaw the concentration of media power in very few hands are achievable – they are necessary for a healthy democracy.

In the world of media ownership, size does not equal quality. And news organizations including CNN shouldn’t be pieces in the newest merger game.