| 英文摘要 |
This paper investigates the bargaining structure between digital platforms and news organizations under informational capitalism. It argues that the genuine object of bargaining has shifted from the tangible assets of the Murdoch-era media conglomerates (press ownership, broadcasting licenses, audience share) to the invisible informational assets monopolized by platforms—algorithmic decision-making and user data infrastructures. Such assets possess no public market price and enter no reciprocal exchange; they are unilaterally priced by their holders, thereby creating an institutional vacuum in which the principle that ''news has value'' cannot be effectively implemented. The paper adopts a dual-axis theoretical framework combining the Coase Theorem and Manuel Castells' discourse on informational capitalism: the former offers institutional tools for property delineation, while the latter diagnoses the structural asymmetry of informational capital. Only their combination can adequately account for this paradigmatic shift. Building on this framework, the paper comparatively analyzes news bargaining legislation in the United States, Canada, the European Union, and Australia, and addresses the context of Taiwan through its policy drafts and academic advocacy, ultimately proposing three theoretical propositions and corresponding policy recommendations. |