Index: wp-includes/js/mce-view.js
===================================================================
--- wp-includes/js/mce-view.js	(revision 28576)
+++ wp-includes/js/mce-view.js	(working copy)
@@ -708,7 +708,7 @@
 				}
 			},
 			fetch: function () {
-				wp.ajax.send( 'filter-content', {
+				wp.ajax.send( 'parse-embed', {
 					data: {
 						post_ID: $( '#post_ID' ).val(),
 						content: this.shortcode.string()
Index: wp-admin/includes/ajax-actions.php
===================================================================
--- wp-admin/includes/ajax-actions.php	(revision 28576)
+++ wp-admin/includes/ajax-actions.php	(working copy)
@@ -2506,12 +2506,12 @@
 }
 
 /**
- * Apply `the_content` filters to a string based on the post ID.
+ * Apply [embed] handlers to a string.
  *
  * @since 4.0.0
  */
-function wp_ajax_filter_content() {
-	global $post;
+function wp_ajax_parse_embed() {
+	global $post, $wp_embed;
 
 	if ( ! $post = get_post( (int) $_REQUEST['post_ID'] ) ) {
 		wp_send_json_error();
@@ -2522,6 +2522,5 @@
 	}
 
 	setup_postdata( $post );
-
-	wp_send_json_success( apply_filters( 'the_content', wp_unslash( $_POST['content'] ) ) );
+	wp_send_json_success( $wp_embed->run_shortcode( $_POST['content'] ) );
 }
Index: wp-admin/admin-ajax.php
===================================================================
--- wp-admin/admin-ajax.php	(revision 28576)
+++ wp-admin/admin-ajax.php	(working copy)
@@ -60,7 +60,7 @@
 	'wp-remove-post-lock', 'dismiss-wp-pointer', 'upload-attachment', 'get-attachment',
 	'query-attachments', 'save-attachment', 'save-attachment-compat', 'send-link-to-editor',
 	'send-attachment-to-editor', 'save-attachment-order', 'heartbeat', 'get-revision-diffs',
-	'save-user-color-scheme', 'update-widget', 'query-themes', 'filter-content'
+	'save-user-color-scheme', 'update-widget', 'query-themes', 'parse-embed'
 );
 
 // Register core Ajax calls.