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Late Thursday, amid swirling speculation about an incident at Brown University, CNN’s Kaitlan Collins took to social media, pointing out the conflicting information and directing people to her channel's 9pm newscast.

Although CNN is certainly not a impeccable news source, her message seemed accurate for a lot of people. It is one of the organizations where there exists grounded and largely reliable reporting – especially during breaking news situations such as the one taking place near a New Hampshire storage facility.

A Precarious Situation During a Business Struggle

However the news network, now 45 years old, finds itself in a vulnerable position as two massive media empires battle over ownership of its corporate owner, Warner Bros Discovery.

No matter the result, the destiny of CNN has been drawn into a high-stakes game of mergers and acquisitions, rather than as a question of what benefits the news-consuming public.

“This is yet another example of the deep structural problems with origins in decades of policy decisions,” stated Victor Pickard, writer 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 gets presented as a financial tale with key players as the central actors, but there is very little discussion of the common good,” Pickard added.

The Additional Element: Political Influence

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

Think back to the chants of “CNN sucks!” at his rallies, his administration's retaliatory revocation of reporter Jim Acosta’s press credentials, or his sparring with Collins in official meetings.

Trump now says that CNN needs new ownership. This can be interpreted as ownership that will shield him from journalistic oversight. That is part of why he seems to support Paramount Skydance, which has made a aggressive takeover attempt.

He has grounds to prefer that suitor 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 placed the right-leaning Bari Weiss, noted for her “anti-woke” beliefs, as the top editor of that venerable news network.

A Possibility of Continued Turmoil

Significantly, if Netflix wins, CNN and other cable outlets would first be carved out into a independent unit. That would 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.

If you ask Timothy Wu, much of this is against the law, anyway. The influential voice of big tech’s dominance stated that anti-trust laws should block both deals.

“Each proposed deal would be harmful to the country, and both should be opposed by the government,” Wu recently wrote.

The Bigger Challenge and a Potential Solution

Whatever happens in this situation, the underlying crisis persists.

“What we have now is a highly anti-democratic system, but we must resist the belief that change is impossible,” Pickard said. Government actions – from the 1930s and 1940s – helped to foster this profit-obsessed monster, and different policy decisions can tackle it.

Will that happen in an era where the top communications regulator refuses to acknowledge that the agency is independent? Reform is highly improbable now, but that is not to say it will be impossible forever.

Measures that bolster independent news organizations, aid local journalism, subsidize public media, and prohibit the consolidation of media power in a handful of hands are not only possible – they are necessary for a functioning democracy.

Regarding media ownership, size does not equal quality. And news organizations such as CNN shouldn’t be pawns in the most recent merger game.