After the very successful ECC-Book on 'E-conomy' this new report of the European Communication Council (ECC) analyzes from various perspectives the profound societal and economical change of the media economy, initiated by digitalization and networking. Against the background of the current media history, it highlights for example the role of the Internet hype as a pathfinder in a modified media society. The key question is concerned with how the medial future will be like. The report examines effects and new perspectives in the area of economy, society, and politics. The aspects of behavior, business models, legal and regulation questions, self-conception of society and media economy are mooted by international authors to enhance the reader's understanding of the medial future and to disclose options for action.