Media systems (especially broadcasting) can be classified in two different types:
Public Media Systems: Government control over broadcasting through ownership, regulation, and partial funding of public broadcasting services.
Private Media System: Ownership and control lies in the hands of private companies and shareholders.
Both systems can exist in various forms, according to the degree of control by governments and private companies, with mixed systems (public and private) as the third main kind.
Whereas public media systems are usually at least partially funded by governments, private broadcasting solely relies on advertising revenue. Still also public media systems cannot exclude advertising as a source of revenue. Therefore both types are to a certain degree dependent on money coming in by advertisers.
And this implies consequences on the content provided by the media. As the attraction of advertisers becomes critically important, interests of the advertising industry frequently play a dominant role concerning the structure of content and the creation of environments favorable for advertising goods and services within the media becomes more and more common.
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The First Amendment to the US Constitution, though short, lists a number of rights. Only a handful of words refer to freedoms of speech and the press, but those words are of incalculable significance. To understand the current subtleties and controversies surrounding this right, check out this First Amendment site. This detailed handbook of legal information, mostly intended for journalists, should be of interest to anyone who reads or writes. For example, the chapter Invasion of Privacy shows the limits of First Amendment rights, and the balance between the rights of the individual and the rights of the public - or, more crudely, the balance of Tabloid vs. Celebrity. Each section is carefully emended with relevant legal decisions.
http://www.rcfp.org/handbook/viewpage.cgi