The introduction of a liberal media model built on freedom of expression, non-regulation, and free market in Post-Communist Mongolia has lead to a plethora of new media outlets. In a context of external pluralism, the media are key players in dramatic political, social, and cultural changes in Mongolian society. However, due to violations of media freedom, lack of ethical standards as well as market failures in a media market marred with clientelism, the Mongolian media have neither lived up to the ideals of liberal media theory nor been driving forces in the ongoing democratization process. Instead, private and public media, in an unholy alliance, appear more like a lapdog in the service of the political and financial establishment than like a watchdog.