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On Thursday evening, amid swirling speculation concerning an incident at Brown University, the network's Kaitlan Collins took to social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.

Although CNN is certainly not a impeccable news source, her statement rang true for numerous observers. It remains one of the outlets where you can find fact-based and generally trustworthy reporting – notably during breaking news situations such as the one unfolding in the vicinity of a New Hampshire storage facility.

An Uncertain Position During a Business Tug-of-War

However CNN, now 45 years old, finds itself in a vulnerable state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Regardless of who wins, the future of CNN has been drawn into a high-risk game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.

“Here is one more case of the profound systemic issues with roots in many years of governmental choices,” noted Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the University of Pennsylvania.

The debate about who will own Warner Bros Discovery – will it be Netflix or Paramount Skydance? – misses a larger point.

“It is often framed as a financial tale with key players as the main characters, but there is hardly any discussion of the public interest,” Pickard explained.

A Further Element: The Former President

The network's predicament is complicated by Donald Trump’s opinions about a network he has frequently denounced as perhaps his main “fake news” foe.

Think back to the chants of “CNN sucks!” at Trump's rallies, his administration’s punitive revocation of reporter Jim Acosta’s press credentials, or his tense exchanges with Collins in White House briefings.

Trump now asserts that the network requires new ownership. You can read that as ownership that will protect him from negative coverage and examination. That is a factor in why he seems to support Paramount Skydance, which has made a unsolicited offer.

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

Paramount, parent of CBS News, also recently appointed the right-leaning Bari Weiss, known for her “anti-woke” beliefs, as the top editor of that venerable news network.

An Outcome of Further Uncertainty

It is important to note, if Netflix is successful, CNN and other cable outlets would first be carved out into a separate entity. Such a move could be a relief to many at the network, but it’s not exactly a secure position. That structure could pave the way for CNN for a future sale. There is no finish line.

If you ask Timothy Wu, much of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should disallow both deals.

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

The Core Problem and a Potential Solution

Whatever happens with this particular battle, the larger issue endures.

“The present media landscape is a very anti-democratic system, but we shouldn’t give in to the belief that change is impossible,” Pickard noted. Policy decisions – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and new policy decisions can fix it.

Can reform occur in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Change is a distant prospect now, but that should not imply it will never happen.

Initiatives that bolster independent news organizations, bolster local journalism, subsidize public media, and prevent the concentration of media power in very few hands are within reach – they are essential for a functioning democracy.

In the world of media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be tools in the newest corporate chess match.