In Taiwan’s market economy, a symbiotic relationship of vested interests has emerged between news media and politics, leading to media rent-seeking behavior. This phenomenon has not only distorted the role of the media as the “fourth estate” overseeing the government but also weakened the independence and public interest protection capacity of the National Communications Commission (NCC), the regulatory authority. This paper starts with an analysis of media rent-seeking and examines key issues in the NCC’s organizational structure, regulatory powers, and current governance. It then proposes reform recommendations to enhance the NCC’s independence, organizational reform and transparency in policy making. These efforts aim to reduce improper rent-seeking and its harm to fair competition and the development of democracy.