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On Thursday evening, as rumors swirled concerning a shooting at Brown University, the network's Kaitlan Collins posted on social media, noting the confusion and directing people to her channel's 9pm newscast.

Although the network is hardly a impeccable news source, her message rang true for a lot of people. It remains one of the broadcasters where you can find fact-based and generally dependable reporting – especially during breaking news situations like the one developing in the vicinity of a New Hampshire storage facility.

A Vulnerable State During a Business Tug-of-War

Yet CNN, now 45 years old, finds itself in a vulnerable situation as two giant media conglomerates vie for ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the future of CNN has been drawn into a high-stakes 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 roots in decades of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

The debate about the future owner of Warner Bros Discovery – is it going to be Netflix or Paramount Skydance? – misses a broader point.

“The narrative is crafted as a financial tale with key players as the main characters, but there is hardly any discussion of the societal benefit,” Pickard explained.

The Complicating Factor: Donald Trump

The CNN scenario is made more complex by Donald Trump’s longstanding stance about a network he has frequently denounced as perhaps his primary “fake news” foe.

Think back to the shouts of “CNN sucks!” at Trump's rallies, his administration’s punitive withdrawal of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in official meetings.

Trump now claims that the network requires 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 appears to favor Paramount Skydance, which has made a hostile bid.

Trump has reason to like that suitor more. For one thing, it is controlled by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

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

A Possibility of Continued Uncertainty

It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a separate entity. This might be a relief to many at the network, but it’s hardly a secure position. That structure could position CNN for another sale. There is no finish line.

If you ask Timothy Wu, a lot of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should prohibit both deals.

“Either merger would be bad for the country, and both should be contested by anti-trust authorities,” Wu argued.

The Bigger Problem and a Path Forward

Whatever happens in this situation, the underlying crisis endures.

“What we have now is a profoundly system hostile to democracy, but we ought not succumb to learned helplessness,” Pickard emphasized. Policy decisions – originating in the 1930s and 1940s – helped to create this overly commercial monster, and new policy decisions can tackle it.

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

Initiatives that bolster independent news organizations, bolster local journalism, fund public media, and outlaw the accumulation of media power in too few hands are not only possible – they are essential for a healthy democracy.

When it comes to media ownership, bigger isn’t better. And news organizations such as CNN shouldn’t be pieces in the most recent acquisition battle.