The media space is considered as an information and communication system capable to create a new reality (hyper-reality), which is characterized by its own language, signs, symbols, codes, that acquire a multifunctional role in the process of its representation. They also, thanks to the rapid spread of information, contribute to self-identification and socialization of a certain cultural environment, the formation of social consciousness of individuals, their valuable experience. It was found that in the global media space, communication obtains the characteristics of a driving force that not only creates values and encourages their development, but also shapes the culture of humanity. The essence of the concept of "cultural discourse in the modern media space" is highlighted, with the definition of determinants leading to its multivariate interpretation. Emphasis is placed on the mandatory presence of "language within language" in the cultural discourse, which is possible only within the limits of communicative acts in the process of "live" dialogue, crossing the boundaries between "own" and "foreign". The experience of "crossing borders" is analyzed in the context of this phenomenon as an act of transgression with going beyond the boundaries, when the understanding of the basic value orientations and meanings of traditional cultural life disappears. The transcultural, integrative, communicative, dialogic and other leading signs of the multivariate interpretation of the concept of "cultural discourse in the modern media space" are characterized. The main functions of cultural discourse are described (informative, communicative, intermedial, axiological, ideological, entertaining, integrative, and socially adaptive), which assume and even require discursive practices to be interconnected or to exclude such practices, reflecting the specificity of the sociocultural process. It is proven that each interpretation of the concept of "cultural discourse in the modern media space" directs emphasis on certain value orientations of the singular and unique with the recognition of individual differences and their significance in the presented version of the given phenomenon.