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Late Thursday, while unconfirmed reports spread about the Brown University gunman, CNN’s Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her network’s 9pm newscast.

Although it is by no means a impeccable news source, her words rang true for a lot of people. It stands as one of the outlets where you can find fact-based and generally reliable reporting – especially during breaking news situations such as the one developing near a New Hampshire storage facility.

A Precarious State During a High-Stakes Battle

Yet the news network, now middle-aged, finds itself in a precarious position as two massive 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 high-risk game of mergers and acquisitions, instead of as a question of what helps the information-seeking public.

“This represents another instance of the fundamental flaws with roots in decades of governmental choices,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the University of Pennsylvania.

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

“It is often framed as a corporate drama with powerful individuals as the protagonists, but there is very little discussion of the societal benefit,” Pickard added.

A Further Layer: Political Influence

This situation is further muddied by Donald Trump’s views about a network he has long portrayed as perhaps his chief “fake news” foe.

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

Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will protect him from negative coverage and examination. That is part of why he seems to favor Paramount Skydance, which has made a unsolicited offer.

Trump has reason to prefer that suitor more. For one thing, it is led 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 placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the editor-in-chief of that historic news network.

An Outcome of Continued Turmoil

Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a separate entity. That would be a relief to many at the network, but it’s hardly a safe harbor. That setup could pave the way for CNN for a future sale. The cycle continues.

According to Timothy Wu, a great deal of this is against the law, anyway. The prominent critic of big tech’s dominance stated that anti-trust laws should prohibit both deals.

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

The Bigger Problem and a Path Forward

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

“What we have now is a highly anti-democratic system, but we shouldn’t give in to learned helplessness,” Pickard emphasized. Regulatory choices – dating back to the 1930s and 1940s – helped to foster this hyper-commercialized monster, and revised policy decisions can fix it.

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

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

Regarding media ownership, bigger isn’t better. And news organizations including CNN must not be pawns in the newest acquisition battle.