By 2022, social media platforms had become more prominent access points to news than traditional news media platforms. Although news media also draw benefits from online platforms, they find themselves in an increasingly asymmetric relationship that appears to harm journalists and new media’s ability to generate revenues online. Remedying the uneven playing field between big tech and news media has been a recurring ambition of European media policy. In the context of literature on corporate political activity, this chapter investigates how three big tech companies, Alphabet, Meta and Microsoft, have positioned themselves in relation to EU policymaking that aims to strengthen the rights of journalists, news media and press publishers online. The chapter argues that while these big tech companies primarily seek to preserve their own business models and reputations, the media policy domain also reveals a split in their lobby narratives. Due to lower exposure to reforms in digital media policy, Microsoft has been less opposed to, and in fact has campaigned for, stronger protection for news media against digital platforms.