The market value and capitalization of traditional media companies have dropped dramatically in the last five years. This is due to the evolution of digital platforms and the emergence of global communications mega-corporations that have since absorbed the distribution of new information and entertainment content. It is also a consequence of the aggregation of value-added services generated through incessant innovation. Communications mega-corporations, the GAFANs (Google, Amazon, Facebook, Apple and Netflix), and audiovisual and telecommunications platforms reached market capitalizations ranging from 56% to 170% in the last five years (2012-17) respectively, whilst those of traditional media did not exceed 75 percent. Asymmetries on competition regulations against traditional media and the political alarm ignited by the so-called fake news or scandals due to the mishandling of users data awakened the European states and the EU about the urgency of filling the legal gap existing around the development of such platforms, particularly in order to demand rules and responsibilities comparable to those that apply to editorial groupsLa cotización y capitalización de las empresas de medios tradicionales se ha hundido en los últimos cinco años ante la evolución de las plataformas digitales y la conformación de mega grupos globales de comunicación que absorben la distribución de los nuevos contenidos informativos y de entretenimiento, así como la agregación de los servicios de valor añadido generados a través de su incesante innovación. Los mega grupos de comunicación, los GAFAN (Google, Amazon, Facebook, Apple y Netflix), y las plataformas de audiovisual y telecomunicaciones lograron en los últimos cinco años (2012-17) capitalizaciones de entre el 560 y el 170% respectivamente, frente a las de los medios tradicionales, que no pasaron del 75 por ciento. La asimetría de la regulación de la competencia frente a los medios tradicionales y la alarma política provocada por las fake news o los escándalos del uso impropio de datos de los usuarios despertó a los estados europeos y a la propia UE sobre la urgencia de llenar el vacío legal sobre el desarrollo de las plataformas para exigirles reglas de juego y responsabilidades como a los grupos editorialesResults included in this article belong to the project “Indicators related to broadcasters governance, funding,
accountability, innovation, quality and public service applicable to Spain in the digital context” (Reference
CSO2o15-66543-P), which is part of the National Programme for Fostering Excellence in Scientific and Technical
Research, National Sub-Programme for Knowledge Generation launched by the Ministry of Economy and
Competitiveness of Spain, and co-financed by the European Union through the European Regional Development
Fund (ERDF). Also, this article is partly based on the activity of the Communication Management International
Research Network (REDES 2016 G-1641 XESCOM) supported by the Department of Culture, Education and
University Planning of the Xunta de Galicia (reference ED341D R2016 / 019). Marta Rodriguez-Castro is a FPU
researcher in the PhD Program of the Faculty of Communication Sciences of the University of SantiagoS
