The historical relationship between youth subcultures and mainstream media has long been the subject of debate. Some researchers have proposed that, after mixed panic and hype, the media quickly coopts and commodifies subcultural threats. Conversely, others have argued that negative media coverage keeps subcultures coherent and thriving, while positive coverage is the 'kiss of death'. Despite its continued importance, few studies have closely examined this topic and none has quantitatively examined changes in subcultural media representation over time using archival data. This paper addresses this gap though a computer-assisted content analysis of 735 newspaper articles about punk subculture spanning three decades of publication. The results provide mixed support for both theoretical predictions, but fit neither perfectly. Overall coverage is ambivalent in tone, but becomes more positive and less radical over time. Punk takes far longer to commodify than cooptation perspectives predict. It survives positive coverage, but becomes increasingly coherent. The results call into question previous claims about media representation, highlight the need for more synthetic theories of the media's relationship to subcultures, and illustrate the utility of text-mining methods for historical youth studies.