The article describes EU cross-sectoral policy work on online information threats, focusing on the intersection between values and 'referent objects'. Examining discussions on strategic communication, censorship, media literacy and media pluralism, two value-perspectives were identified: while abstract procedural values of efficiency and coherence guide content management in the security/defence/internet communities, media/education communities highlight the end-goals of content pluralism and enhanced citizen judgement. In implementation, the former's lack of substantive goals, coupled with an outsourcing of content management, may give rise to hybrid values. The findings highlight the danger of neglecting substance in favor of efficient management of an online 'battlespace'.