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Late Thursday, amid swirling speculation regarding an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and guiding the public to her channel's 9pm newscast.

Even though it is by no means a impeccable news source, her message rang true for a lot of people. It stands as one of the organizations where there exists grounded and mostly reliable reporting – notably during fast-moving events like the one taking place near a New Hampshire storage facility.

A Precarious Situation Amid a Corporate Tug-of-War

But CNN, now 45 years old, finds itself in a vulnerable situation as two giant media empires battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has turned into a major game of business acquisition, not as a question of what helps the news-consuming public.

“Here is one more case of the profound systemic issues with origins in many years of governmental choices,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy 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 larger point.

“It is often framed as a corporate drama with influential figures as the central actors, but there is scant discussion of the common good,” Pickard explained.

The Additional Element: Donald Trump

The network's predicament is further muddied by Donald Trump’s views about a network he has frequently denounced as perhaps his main “fake news” antagonist.

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

Trump now says that the network requires new ownership. This can be interpreted as ownership that will protect him from journalistic oversight. That is part of why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

Trump has reason to favor that company 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 appointed the conservative Bari Weiss, noted for her “anti-woke” beliefs, as the lead editor of that storied news network.

A Possibility of More Turmoil

It is important to note, if Netflix prevails, CNN and other cable outlets would first be spun off into a independent unit. Such a move could be a relief to many at the network, but it’s hardly a guarantee of stability. That setup could position CNN for yet another acquisition. There is no finish line.

In the view of Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should block both deals.

“Each proposed deal would be bad for the country, and both should be opposed by regulators,” Wu argued.

The Bigger Issue and a Potential Solution

Regardless of the resolution regarding CNN, the larger issue remains.

“What we have now is a very system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to create this hyper-commercialized monster, and different policy decisions can tackle it.

Is this likely in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Change is very unlikely now, but that is not to say it will never happen.

Policies that bolster independent news organizations, reinforce local journalism, subsidize public media, and outlaw the accumulation of media power in a handful of hands are achievable – they are necessary for a functioning democracy.

Regarding media ownership, bigger isn’t better. And news organizations including CNN cannot be tools in the most recent merger game.