Over the past 10 years, the media industry has been experiencing a new stage of deep transformation. Printed-paper sells less and less in many markets, while ad revenue decreases progressively. Radio and TV also lose audience and advertising. That is what is happening in Europe and North America. On the other hand, we observe that newspaper sales in the world continue to grow, thanks to the media development in Africa, India and China. The crisis of the traditional media mainly affects mature economies. Meanwhile, digital media provide new and extraordinary innovation labs, yet very few of them can count on an effective business model. Again, the next years will be years of transition: we have to believe in the new media, but we must continue to take care of newspapers, radio, and television. The course deals with the current media situation. The following topics will be addressed: a) the reasons for the traditional media crisis; 2) the development trend of online publishing companies; 3) the most innovative business models (both traditional and digital); 4) innovations introduced in recent years; 5) the role of social media; 6) the development of advertising and other sources of income. The tools of this analysis are: a) several case histories; b) economic and historical data; c) an innovative approach to media management (the economy of attention).