This essential guide to the critical study of the media economy in society teaches students how to critically analyse the political economy of communication and the media. The book introduces a variety of methods and topics, including the political economy of communication in capitalism, the political economy of media concentration, the political economy of advertising, the political economy of global media and transnational media corporations, class relations and working conditions in the capitalist media and communication industry, the political economy of the Internet and digital media, the information society and digital capitalism, the public sphere, Public Service Media, the Public Service Internet, and the political economy of media management. This will be an ideal textbook for a variety of courses relating to media and communication, including Media Economics; Political Economy of Communication; Media, Culture, and Society; Critical Media and Communication Studies; Media Sociology; Media Management; and Media Business Studies.