In the recent past, the reassessment of the transmission situation with regard to Shakespeare's »King Lear« has spawned numerous single editions of the various versions of the play. Proceeding from a discussion of the transmission problems, the editorial history, and present-day editorial practice, the study undertakes a comprehensive reconception of the methodological foundations of version editing in connection with »King Lear«. The discussion of the theoretical editing problems involved produces an outline for a hypermedia edition that departs from traditional norms in its design of reader text, navigation structure, and reference system. An integral part of the study is an electronic component accessible on the internet (www.niemeyer.de/links/link_material.html), which illustrates the editorial and media-theoretical premises with reference to a newly edited portion of the text.