我國近年來大宗媒體併購案不斷，以數位匯流、開放市場做為支持媒體集中的主流論述，係多傳習自美國解除管制之經驗。然而，論者忽略的是：在媒體所有權的管制上，美國雖然大幅放寬跨媒體限制，卻仍然以公共利益為主要判準，也因此建立一套公共利益的衡平測試（balancing test）。而且，主管機關FCC一方面對於業者公平競爭行為施加嚴格要求，另一方面透過公開程序、公民參與以及嚴謹地論證來檢驗媒體併購的利益。本文透過兩則重大個案的分析，檢視FCC對媒體併購的審查標準及程序，希望能夠為我國持續進行的媒體併購審查及健全壟斷防制法制，提出建言。本文認為，我國當前媒體管制，欠缺合理的市場規範，也未建立公平競爭的遊戲規則以及具公信力的產業資訊；主管機關審查媒體併購，缺乏明確的審查標準和審查程序，相關資訊透明度不足，審查結果缺乏充分論證。這些問題，都有待立法及制度解決。

For those who support media mergers and ownership transfers in Taiwan, the trend of digital convergence seems inevitable, and the benefits of open market irresistible. Usually with US deregulation experiences as reference, Taiwan government has approved several application cases, ignoring the fact that protecting public interests remains the backbone of US media regulation policies. This article examines two major media merger cases in the US, and analyzes the criteria applied and the procedure followed by the FCC in reviewing them. The author makes clear that the FCC, while lifting restrictions on cross-media ownership, nonetheless establishes a balancing test to secure public interests. On the one hand there are strict regulations to ensure fair competitions among media corporations, while on the other hand civil participations and public debates are required so as to guarantee the transparency of the reviewing procedure. In conclusion, the article pinpoints the deficiencies in Taiwan's regulations for media mergers and ownership transfers: an obvious shortage of fair-game rules and of credible industry information; no clear criteria and procedure for reviewing application cases; no open public debates with adequate civil participation. Clearly, much remains to be resolved via legislation.