During the last decade, the European Union has refined its internet legislation, policies and practices following a mix of regulation procedure and governance process. Internet content regulation is chosen as a case study in this article to illustrate the results of this European navigation between regulation and governance. This Chapter will then present an analytical framework for assessing the evolution from regulation to governance in the context of the internet. Furthermore, it will address human rights and rule of law concerns with internet governance. Finally, it will offer concluding global perspectives on content regulation and internet governance.