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Late Thursday, while unconfirmed reports spread regarding an incident at Brown University, CNN’s Kaitlan Collins posted on social media, pointing out the conflicting information and directing people to her network’s 9pm newscast.

Although CNN is certainly not a flawless news source, her message rang true for numerous observers. It is one of the organizations where there exists reality-based and largely trustworthy reporting – particularly during breaking news situations like the one developing near a New Hampshire storage facility.

A Vulnerable State Amid a High-Stakes Battle

However the news network, now middle-aged, finds itself in a vulnerable situation as two huge 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 mergers and acquisitions, instead of as a question of what helps the information-seeking public.

“Here is one more case of the fundamental flaws with origins in many years of regulatory actions,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

The conjecture about which company will control Warner Bros Discovery – could it be Netflix or Paramount Skydance? – overlooks a more important point.

“The narrative is crafted as a financial tale with powerful individuals as the central actors, but there is scant discussion of the common good,” Pickard said.

The Additional Layer: Donald Trump

This situation is made more complex by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his main “fake news” adversary.

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

Trump now says that CNN needs new ownership. Many see this as a desire for ownership that will shield him from negative coverage and examination. That is one reason why he appears to support Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to prefer that suitor more. For one thing, it is led by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

Paramount, owner of CBS News, also recently installed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

A Future of Further Instability

Significantly, if Netflix is successful, CNN and other cable outlets would first be separated into a separate entity. This might be a welcome development to many at the network, but it’s far from a secure position. That arrangement could set up CNN for a future sale. The cycle continues.

According to Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should disallow both deals.

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

The Fundamental Challenge and a Way Ahead

Regardless of the resolution regarding CNN, the bigger problem persists.

“The present media landscape is a profoundly structure that undermines democracy, but we shouldn’t give in to learned helplessness,” Pickard noted. Government actions – originating in the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.

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

Measures that strengthen independent news organizations, bolster local journalism, fund public media, and prohibit the concentration of media power in very few hands are within reach – they are necessary for a healthy democracy.

Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the newest merger game.