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Late Thursday, as rumors swirled concerning an incident at Brown University, the network's Kaitlan Collins posted on social media, highlighting the uncertainty and pointing viewers to her channel's 9pm newscast.

Even though the network is hardly a flawless news source, her statement seemed accurate to many. It remains one of the organizations where you can find reality-based and generally dependable reporting – particularly during breaking news situations such as the one developing close to a New Hampshire storage facility.

A Vulnerable Position During a Business Struggle

But CNN, now middle-aged, finds itself in a precarious state as two giant media empires vie for ownership of its corporate owner, Warner Bros Discovery.

Whatever the outcome, the destiny of CNN has been drawn into a high-stakes game of corporate ownership, not as a question of what helps the information-seeking public.

“Here is one more case of the profound systemic issues with origins in decades of policy decisions,” said Victor Pickard, author of “Democracy Without Journalism?” and a academic specializing in media policy at the Pennsylvania University.

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

“The narrative is crafted as a corporate drama with influential figures as the main characters, but there is scant discussion of the societal benefit,” Pickard added.

A Further Element: Donald Trump

The network's predicament is further muddied by Donald Trump’s opinions 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 withdrawal of reporter Jim Acosta’s press credentials, or his sparring with Collins in White House briefings.

Trump now says that the network requires new ownership. This can be interpreted as ownership that will shield him from criticism and scrutiny. That is one reason why he seems to come down on the side of Paramount Skydance, which has made a hostile bid.

Trump has reason to favor that bidder 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 installed the right-leaning Bari Weiss, famous for her “anti-woke” beliefs, as the top editor of that venerable news network.

A Future of Further Uncertainty

It is important to note, 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 hardly a guarantee of stability. That arrangement could pave the way for CNN for another sale. It never ends.

In the view of Timothy Wu, a great deal of this is illegal, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should block both deals.

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

The Core Problem and a Potential Solution

Regardless of the resolution with this particular battle, the underlying crisis persists.

“Our current system is a highly structure that undermines democracy, but we must resist a sense of powerlessness,” Pickard noted. Regulatory choices – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and revised policy decisions can address it.

Will that happen in an era where the Federal Communications Commission chair refuses to acknowledge that the agency is independent? Reform is very unlikely now, but that is not to say it will be impossible forever.

Initiatives that strengthen independent news organizations, aid local journalism, finance public media, and prevent the accumulation of media power in too few hands are achievable – they are vital for a healthy democracy.

In the world of media ownership, bigger isn’t better. And news organizations like CNN shouldn’t be pieces in the most recent merger game.