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Late Thursday, while unconfirmed reports spread about the Brown University gunman, the network's Kaitlan Collins took to social media, noting the confusion and guiding the public to her network’s 9pm newscast.

Although it is by no means a perfect news source, her statement seemed accurate for numerous observers. It is one of the broadcasters where you can find reality-based and largely dependable reporting – particularly during crises such as the one developing close to a New Hampshire storage facility.

A Vulnerable State During a Business Battle

But the news network, now four and a half decades old, finds itself in a vulnerable state as two huge media empires vie for ownership of its parent company, Warner Bros Discovery.

Regardless of who wins, the future of CNN has become part of a high-risk game of business acquisition, instead of as a question of what helps the information-seeking public.

“This is yet another example of the deep structural problems with origins in many years of policy decisions,” stated Victor Pickard, author of “Democracy Without Journalism?” and a media policy professor at the Penn.

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

“It is often framed as a business story with key players as the main characters, but there is very little discussion of the public interest,” Pickard added.

A Further Element: Political Influence

This situation is made more complex by Donald Trump’s opinions about a network he has frequently denounced as perhaps his primary “fake news” adversary.

Think back to the shouts of “CNN sucks!” at the president’s rallies, his administration's retaliatory suspension of reporter Jim Acosta’s press credentials, or his clashes with Collins in White House briefings.

Trump now asserts that CNN needs new ownership. Many see this as a desire for ownership that will protect him from criticism and scrutiny. That is part of why he appears to favor Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to prefer that suitor more. For one thing, it is run by David Ellison, son of the pro-Trump Larry Ellison, one of the world’s richest people.

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

A Future of More Uncertainty

Significantly, if Netflix wins, CNN and other cable outlets would first be separated into a standalone company. This might be a relief to many at the network, but it’s hardly a secure position. That structure could set up CNN for another sale. It never ends.

If you ask Timothy Wu, a great deal of this is against the law, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.

“Each proposed deal would be harmful to the country, and both should be challenged by anti-trust authorities,” Wu recently wrote.

The Fundamental Issue and a Potential Solution

Whatever happens with this particular battle, the bigger problem remains.

“The present media landscape is a very anti-democratic system, but we must resist learned helplessness,” Pickard said. Government actions – from the 1930s and 1940s – helped to build this overly commercial monster, and revised policy decisions can address it.

Will that happen in an era where the top communications regulator won’t even affirm that the agency is independent? Change is a distant prospect now, but that doesn’t mean it will be impossible forever.

Measures that strengthen independent news organizations, bolster local journalism, finance public media, and prevent the concentration of media power in very few hands are not only possible – they are vital for a healthy democracy.

When it comes to media ownership, size does not equal quality. And news organizations including CNN cannot be pawns in the newest merger game.