A theory is developed to describe the wave processes that occur in waveguide media having several types of nonlinearity, specifically, multinonlinear media. It is shown that the nonlinear Schrödinger equation can be used to describe the general wave process that occurs in such media. The competition between the electric wave nonlinearity and the magnetic wave nonlinearity in a layered multinonlinear ferrite–ferroelectric structure is found to change a total repulsive nonlinearity into a total attractive nonlinearity.