The term convergence in the areas of ICT and media means the coming together of IT, telecommunications, broadcasting and other media, technologically, market and policy wise. It is the sectoral convergence of the hitherto more separate ICT and media areas, which is in focus, even though there certainly are also changes taking place vertically in the different sectors. The paper examines the relationships between technology and market developments and policy and regulatory initiatives. The issue is, therefore, not solely the implications of market and technology trends on policy and regulation, but also the reverse implications of policy and regulatory frameworks on technology and market developments. The paper analyses the convergence tendencies at a technological, market level and policy and regulatory level. It is, however, the policy level, which is the centre of attention in the paper. The paper is intended to establish a useful framework for understanding convergence issues, raising questions and fostering discussion. Consequently, the outcome of the paper is not an firm conclusion putting forward a specific model for convergence regulation. It is rather a set of open questions and issues and an overview of the different regulatory possibilities that countries have.