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Late Thursday, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and guiding the public to her channel's 9pm newscast.

While it is by no means a impeccable news source, her words resonated for numerous observers. It stands as one of the broadcasters where you can find fact-based and mostly reliable reporting – particularly during breaking news situations like the one unfolding in the vicinity of a New Hampshire storage facility.

An Uncertain Position Amid a Business Battle

Yet CNN, now 45 years old, finds itself in a uncertain position as two huge media corporations compete for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the future of CNN has turned into a high-stakes game of mergers and acquisitions, rather than as a question of what serves the information-seeking public.

“Here is one more case of the deep structural problems with origins in many years of policy decisions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

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

“It gets presented as a financial tale with influential figures as the central actors, but there is hardly any discussion of the public interest,” Pickard explained.

A Further Factor: Donald Trump

The CNN scenario is made more complex by Donald Trump’s views about a network he has consistently labeled as perhaps his chief “fake news” antagonist.

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

Trump now asserts that CNN needs new ownership. This can be interpreted as ownership that will insulate him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

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

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

A Possibility of More Turmoil

It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. This might be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could pave the way for CNN for a future sale. There is no finish line.

According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The prominent critic of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.

“Both acquisition attempts would be detrimental to the country, and both should be contested by the government,” Wu recently wrote.

The Bigger Problem and a Path Forward

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

“Our current system is a profoundly anti-democratic system, but we must resist the belief that change is impossible,” Pickard emphasized. Government actions – originating in the 1930s and 1940s – helped to create this hyper-commercialized monster, and new policy decisions can address it.

Can reform occur in an era where the top communications regulator will not confirm that the agency is independent? Overhaul is highly improbable now, but that doesn’t mean it will not happen in the future.

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

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