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This past Thursday night, as rumors swirled concerning a shooting at Brown University, CNN’s Kaitlan Collins posted on social media, noting the confusion and guiding the public to her network’s 9pm newscast.

While it is by no means a flawless news source, her statement seemed accurate to many. It stands as one of the outlets where there exists grounded and generally trustworthy reporting – notably during crises such as the one developing close to a New Hampshire storage facility.

An Uncertain Position Amid a Business Struggle

Yet the news network, now 45 years old, finds itself in a vulnerable situation as two giant media corporations vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has turned into a major game of business acquisition, not 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 governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.

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

“It gets presented as a corporate drama with powerful individuals as the central actors, but there is scant discussion of the public interest,” Pickard explained.

A Further Element: The Former President

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” foe.

Recall the shouts of “CNN sucks!” at his rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a unsolicited offer.

There is a basis to favor 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.

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

An Outcome of Further Uncertainty

It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. That would be a relief to many at the network, but it’s not exactly a guarantee of stability. That setup could set up CNN for a future sale. It never ends.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The well-known analyst of big tech’s dominance wrote recently that competition laws should disallow both deals.

“Each proposed deal would be detrimental to the country, and both should be opposed by anti-trust authorities,” Wu recently wrote.

The Core Challenge and a Path Forward

No matter the outcome with this particular battle, the larger issue remains.

“The present media landscape is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard said. Regulatory choices – from the 1930s and 1940s – helped to build this profit-obsessed monster, and new policy decisions can address it.

Will that happen in an era where the head of the FCC will not confirm that the agency is independent? Change is highly improbable now, but that doesn’t mean it will never happen.

Initiatives that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in a handful of hands are within reach – they are essential for a functioning democracy.

Regarding media ownership, size does not equal quality. And news organizations including CNN must not be pieces in the most recent merger game.