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On Thursday evening, while unconfirmed reports spread regarding an incident at Brown University, the network's Kaitlan Collins used social media, pointing out the conflicting information and pointing viewers to her channel's 9pm newscast.

Although it is by no means a flawless news source, her words rang true to many. It stands as one of the broadcasters where you can find reality-based and mostly reliable reporting – particularly during fast-moving events such as the one unfolding in the vicinity of a New Hampshire storage facility.

A Precarious Position During a High-Stakes Struggle

Yet the news network, now middle-aged, finds itself in a precarious situation as two huge media empires battle over ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the future of CNN has turned into a high-stakes game of business acquisition, instead of as a question of what serves the information-seeking public.

“This represents another instance of the fundamental flaws with roots in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

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

“It gets presented as a business story with influential figures as the protagonists, but there is very little discussion of the public interest,” Pickard added.

The Complicating Element: Donald Trump

The network's predicament is complicated by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” antagonist.

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

Trump now claims that CNN needs new ownership. Many see this as a desire for ownership that will protect him from journalistic oversight. That is part of why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to favor that company more. For one thing, it is run 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 right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the lead editor of that storied news network.

An Outcome of Further Turmoil

Significantly, if Netflix is successful, CNN and other cable outlets would first be carved out into a independent unit. That would be a welcome development to many at the network, but it’s hardly a secure position. That structure could position CNN for a future sale. There is no finish line.

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

“Either merger would be bad for the country, and both should be challenged by the government,” Wu argued.

The Core Problem and a Path Forward

Regardless of the resolution regarding CNN, the underlying crisis endures.

“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – from the 1930s and 1940s – helped to create this profit-obsessed monster, and new policy decisions can address it.

Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will be impossible forever.

Initiatives that support independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in very few hands are achievable – they are essential for a healthy democracy.

Regarding media ownership, larger is not superior. And news organizations such as CNN must not be pieces in the most recent acquisition battle.