Drawing upon Chin-Chuan Lee’s perspective on communication and power, this study examines the structural transformation of press freedom in Taiwan during its democratic transition, with a specific focus on the often-overlooked arenas of universities and journalism education. It posits that while control over Taiwanese media has shifted from authoritarian political suppression to capital monopolization, the forces of power and wealth remain tightly aligned. During the authoritarian era, university campuses stifled expression through rigorous censorship, forcing student groups to counter-attack using “small media” and underground publications. In the contemporary era, although higher education has broken free from state control, it has succumbed to market pragmatism driven by industrial-academic cooperation and employment-rate evaluations. This shift has overly technicalized curricula and diluted the critical spirit of journalism. This study argues that journalism education must reject short-term, anti-intellectual approaches, returning instead to general education, independent thinking, and the cultivation of an unyielding journalistic integrity. Ultimately, it calls for reshaping universities into public projects that champion democratic governance and protect freedom of speech.