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Late Thursday, amid swirling speculation regarding the Brown University gunman, the network's Kaitlan Collins used social media, pointing out the conflicting information and guiding the public to her channel's 9pm newscast.

Even though it is by no means a impeccable news source, her words rang true for numerous observers. It is one of the broadcasters where you can find fact-based and generally dependable reporting – especially during crises such as the one developing close to a New Hampshire storage facility.

A Precarious Position Amid a Business Struggle

But CNN, now 45 years old, finds itself in a precarious position as two huge media conglomerates battle over ownership of its parent company, Warner Bros Discovery.

Whatever the outcome, the fate of CNN has turned into a major game of mergers and acquisitions, 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,” stated Victor Pickard, author of “Democracy Without Journalism?” and a professor of media policy at the Penn.

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

“The narrative is crafted as a business story with powerful individuals as the central actors, but there is hardly any discussion of the public interest,” Pickard added.

The Complicating Factor: Political Influence

The network's predicament is made more complex by Donald Trump’s opinions about a network he has long portrayed as perhaps his chief “fake news” foe.

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

Trump now claims that CNN needs new ownership. You can read that as ownership that will protect him from journalistic oversight. That is one reason why he appears to come down on the side of Paramount Skydance, which has made a aggressive takeover attempt.

Trump has reason to favor that bidder more. For one thing, it is run by David Ellison, son of the ally of Trump Larry Ellison, one of the world’s richest people.

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

A Possibility of More Turmoil

It is important to note, if Netflix is successful, CNN and other cable outlets would first be spun off into a standalone company. This might be a relief to many at the network, but it’s not exactly a secure position. That arrangement could pave the way for CNN for a future sale. There is no finish line.

If you ask Timothy Wu, a lot of this is a violation of antitrust statutes, anyway. The influential voice of big tech’s dominance recently argued that competition laws should prohibit both deals.

“Both acquisition attempts would be bad for the country, and both should be challenged by regulators,” Wu argued.

The Core Challenge and a Potential Solution

Whatever happens regarding CNN, the underlying crisis remains.

“What we have now is a profoundly system hostile to democracy, but we must resist the belief that change is impossible,” Pickard noted. Policy decisions – from the 1930s and 1940s – helped to create this profit-obsessed monster, and revised policy decisions can address it.

Is this likely in an era where the top communications regulator won’t even affirm that the agency is independent? Change is highly improbable now, but that is not to say it will be impossible forever.

Measures that bolster independent news organizations, bolster local journalism, finance public media, and prohibit the accumulation of media power in too few hands are achievable – they are vital for a robust democracy.

In the world of media ownership, bigger isn’t better. And news organizations including CNN must not be pawns in the latest merger game.