Media are not only economic goods but also cultural assets, and they are institutions of growing societal importance. This book is written from a more communication studies perspective than an economic one, discussing the possibilities and limitations of analyzing media and related issues using economic theoretical approaches. A review of the first edition of the book highlighted its merit in essentially enlightening economics from a communication studies perspective and further educating communication scholars in economic concepts. This bridging of disciplines remains the focus of the third, updated, and expanded edition. The emphasis continues to be on the classic journalistic media, namely print and broadcasting.