The Business of Media presents the critical, yet careful, analysis of the rapidly changing media industry that students need in order to get behind the headlines and understand our increasingly media-saturated society. The writing is clear and jargon-free, accessible to undergraduates without requiring a background in economics. Key Features: Examines the basic dynamics that underlie the changing media industry and the possible influence these changes are having on society (society's insatiable quest for profits and democratic society's need for a media system that serves the public interest) Draws from both social and economic theory to create two conceptual frameworks: market model, and public sphere model Focus on devlopments in the last decade to major media industry trends mapping structural organization, the rise of media conglomerates, and their new strategies Assesses the impact of recent changes in the media industry using the public sphere model on social and political life Offers clear, concise, jargon-free writing accessible to all students and professionals without an economics background