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

Even though CNN is certainly not a impeccable news source, her words rang true for numerous observers. It stands as one of the broadcasters where there exists fact-based and largely dependable reporting – particularly during fast-moving events like the one taking place close to a New Hampshire storage facility.

An Uncertain Situation Amid a High-Stakes Struggle

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

Regardless of who wins, the fate of CNN has been drawn into a high-risk game of business acquisition, rather than as a question of what benefits the information-seeking public.

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

The speculation about who will own Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – fails to grasp a broader point.

“It is often framed as a business story with powerful individuals as the central actors, but there is very little discussion of the public interest,” Pickard explained.

The Complicating Factor: Political Influence

This situation is complicated by Donald Trump’s opinions about a network he has long portrayed as perhaps his primary “fake news” adversary.

Think back to the shouts of “CNN sucks!” at his rallies, his administration’s punitive suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in press briefings.

Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. 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 company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that venerable news network.

A Possibility of Further Turmoil

Significantly, if Netflix wins, CNN and other cable outlets would first be spun off into a independent unit. This might be a welcome development to many at the network, but it’s hardly a safe harbor. That setup could set up CNN for yet another acquisition. The cycle continues.

In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.

“Each proposed deal would be bad for the country, and both should be challenged by regulators,” Wu recently wrote.

The Fundamental Issue and a Way Ahead

Whatever happens in this situation, the bigger problem persists.

“Our current system is a very structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard said. Policy decisions – originating in the 1930s and 1940s – helped to build this hyper-commercialized monster, and revised policy decisions can fix it.

Will that happen 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 strengthen independent news organizations, aid local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are not only possible – they are necessary for a robust democracy.

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