When the financial markets collapsed in 2008, the media industry was affected by a major slump in advertising revenues, and a formerly highly successful business model fell into a state of decay. This economic crisis has threatened core social values of contemporary democracies, such as freedom, diversity and equality. Taking a normative and policy perspective, this book discusses threats and opportunities for the media industry in Europe: What are the implications of the crisis for professional journalism, the media industry, and the process of political communication? Can non- state and non-market actors profit from the crisis? And what are media policy answers at the national and European level?