This essay investigates the problem of the media and democracy in post-handover Macau. Ever since the former Portuguese colonial outpost was opened up to foreign casino entrepreneurs in 2002 and transformed to Asia's new gambling capital, the problem of democracy has come into focus as a crucial issue. The dramatic economic growth caused an unanticipated backlash from the politically activated public, yet the media, particularly TDM – a local terrestrial TV station owned by the Macau SAR government – continues to serve as a docile government mouthpiece, undermining the necessary conditions for democratic governance. This essay analyzes TDM's ownership structure, journalistic practices, as well as recent disputes over TV signal relay service, examining how the domain of television is increasingly ‘depoliticized’ and isolated from broader struggles for democracy. The tendency of depoliticization, characterized by the absence of informed, democratic participation in media policymaking, coincides with the city's integration into the global circuits of capital. Macau's historical experience reveals how the corrupt and secretive enactment of policies inherits the colonial legacy, disorganizes dissent, and legitimizes the anti-democratic forces of neoliberalism. A viable democratic prospect for reforming the present media system should begin with a ‘transformative imagination’ that goes beyond the rhetoric of ‘free market’.