The work is aimed at revealing historical prerequisites and main trends of development of media holding companies as an objects system and as a method of media process organization. Various concepts and functioning schemes of media corporations have been analyzed and structural elements of media holding companies have been studied. Experience of leading international and Russian media concerns have also been analyzed. Dynamics of media complexes development is characterized by rapid expansion i.e. uptake of less powerful companies with more powerful and taking under control new territories. It has caused significant system errors. For example, great number of titles is concentrated in a few publishing houses, relatively small group of monopolists is extremely influential in production and distribution of media products. This group in fact dictates its rules for media market. The situation in Russia is even worse due to Federal Antimonopoly Service languid attempts, extremely high level of corruption and sophi