This article provides a theoretical framework of dual government-business relations to explore the rise and decline of China's influence on Taiwanese media's self-censorship. It argues that the extent to which a Taiwanese media firm conducts external-induced self-censorship under Beijing's influence hinges on the relative strength between its local and cross-strait government-business relations. The comparative case study of the Want Want-China Times Media Group and the Sanlih E-Television Group indicates that (1) a Taiwanese media firm is more likely to implement external-induced self-censorship when its cross-strait government-business relations are more robust than its local government-business relations, and that (2) a Taiwanese media firm's external-induced self-censorship will reduce when its local government-business relations are more substantial than its cross-strait government-business relations. The research results improve our understanding of the conditions underlying China's influence on Taiwanese media, supplement the explanation of the growth and decline of the media's self-censorship, and facilitate the deliberations on policies responding to China's influence.