As Big Tech corporations like Microsoft, Amazon, Meta, Apple, and Alphabet wield growing influence over society, concerns about their accountability remain unresolved. Their transnational operations, financial power, and lobbying efforts have outpaced regulatory mechanisms, creating an accountability gap. This dissertation investigates the role of news media as watchdogs, assessing whether and how they hold Big Tech accountable for their societal impact.Adopting a mixed-methods approach, the dissertation is structured into two parts. The first examines the perceptions of journalists, lobbyists, and news audiences regarding news media’s watchdog role through interviews and surveys. Findings reveal that while journalists acknowledge the importance of accountability reporting, their willingness to adopt an active watchdog stance is influenced by complex relationships with expert sources. Meanwhile, audiences expect stronger media oversight of Big Tech, yet perceive journalism as falling short, affecting trust in news institutions. The second part shifts to a performative lens, analyzing news coverage to assess how journalists frame Big Tech’s role. While media outlets expose and critique Big Tech’s influence, corporations strategically shape public narratives to legitimize their power and align themselves with societal values. A bridging chapter blends perceptual and performative approaches and reflects on the use of reconstruction interviews.To conclude, this dissertation argues that accountability should be understood as a dynamic, communicative exchange. It underscores the need for independent, transparent, and adaptive journalism to maintain its legitimacy and safeguard democratic values.