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Late Thursday, as rumors swirled about the Brown University gunman, CNN’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 statement rang true to many. It stands as one of the broadcasters where you can find fact-based and mostly trustworthy reporting – notably during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.

A Vulnerable State Amid a Corporate Tug-of-War

However the news network, now four and a half decades old, finds itself in a precarious situation as two giant media conglomerates compete for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the destiny of CNN has been drawn into a major game of business acquisition, instead of as a question of what benefits the news-consuming public.

“Here is one more case of the deep structural problems with origins in decades of regulatory actions,” stated Victor Pickard, writer of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

The debate about which company will control Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – overlooks a larger point.

“It is often framed as a corporate drama with influential figures as the central actors, but there is very little discussion of the common good,” Pickard added.

The Complicating Element: Donald Trump

This situation is further muddied by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.

Remember the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his clashes with Collins in press briefings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will shield him from criticism and scrutiny. That is a factor in why he seems to favor Paramount Skydance, which has made a hostile bid.

Trump has reason to favor that company 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, famous for her “anti-woke” beliefs, as the editor-in-chief of that venerable news network.

An Outcome of More Uncertainty

It is important to note, if Netflix is successful, CNN and other cable outlets would first be separated into a independent unit. That would be a relief to many at the network, but it’s far from a safe harbor. That setup could pave the way for CNN for another sale. There is no finish line.

If you ask Timothy Wu, a lot of this is against the law, anyway. The prominent critic of big tech’s dominance stated that competition laws should block both deals.

“Either merger would be bad for the country, and both should be contested by the government,” Wu recently wrote.

The Fundamental Challenge and a Path Forward

Whatever happens regarding CNN, the larger issue remains.

“The present media landscape is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Government actions – from the 1930s and 1940s – helped to foster this hyper-commercialized monster, and different policy decisions can address it.

Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Change is highly improbable now, but that is not to say it will not happen in the future.

Measures that bolster independent news organizations, bolster local journalism, finance public media, and outlaw the consolidation of media power in too few hands are not only possible – they are necessary for a healthy democracy.

Regarding media ownership, bigger isn’t better. And news organizations including CNN shouldn’t be tools in the most recent acquisition battle.