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This past Thursday night, amid swirling speculation regarding an incident at Brown University, CNN’s Kaitlan Collins used social media, noting the confusion and directing people to her network’s 9pm newscast.

Although it is by no means a impeccable news source, her statement rang true for a lot of people. It stands as one of the broadcasters where there exists fact-based and largely reliable reporting – notably during crises like the one developing in the vicinity of a New Hampshire storage facility.

An Uncertain Position During a High-Stakes Battle

However the news network, now four and a half decades old, finds itself in a uncertain position as two huge 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-risk game of mergers and acquisitions, rather than as a question of what helps the news-consuming public.

“This is yet another example of the fundamental flaws with origins in many years of regulatory actions,” said Victor Pickard, writer of “Democracy Without Journalism?” and a professor of media policy at the Pennsylvania University.

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

“It gets presented as a financial tale with influential figures as the main characters, but there is very little discussion of the common good,” Pickard explained.

A Further Element: The Former President

This situation is further muddied by Donald Trump’s longstanding stance about a network he has consistently labeled as perhaps his primary “fake news” antagonist.

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

Trump now asserts that the network requires new ownership. Many see this as a desire for ownership that will insulate him from criticism and scrutiny. That is one reason why he appears to favor Paramount Skydance, which has made a unsolicited offer.

Trump has reason to prefer that company more. For one thing, it is run by David Ellison, son of the Trump-friendly Larry Ellison, one of the world’s richest people.

Paramount, owner of CBS News, also recently placed the conservative Bari Weiss, known for her “anti-woke” beliefs, as the editor-in-chief of that storied news network.

A Future of Continued Turmoil

It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a separate entity. That would be a welcome development to many at the network, but it’s not exactly a secure position. That structure could set up CNN for another sale. It never ends.

If you ask Timothy Wu, much of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance wrote recently that anti-trust laws should prohibit both deals.

“Both acquisition attempts would be harmful to the country, and both should be challenged by the government,” Wu argued.

The Core Issue and a Potential Solution

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

“Our current system is a profoundly system hostile to democracy, but we shouldn’t give in to a sense of powerlessness,” Pickard said. Regulatory choices – dating back to the 1930s and 1940s – helped to build this overly commercial monster, and new policy decisions can address it.

Will that happen in an era where the Federal Communications Commission chair won’t even affirm that the agency is independent? Reform is a distant prospect now, but that is not to say it will be impossible forever.

Policies that support independent news organizations, reinforce local journalism, finance public media, and prevent the consolidation of media power in very few hands are achievable – they are necessary for a robust democracy.

In the world of media ownership, larger is not superior. And news organizations including CNN cannot be tools in the latest merger game.