This article reviews theoretical approaches and foundations to the analysis of management in mass media organizations. The unique role these organizations play in political, cultural and economic life is the rationale for developing the theoretical basis for the study of management. At first the, universal theories of management are reviewed. One of these universal approaches, Agency theory, is dealt with in some detail. Second, contingency theories of management are reviewed, whose common theme is the need to adapt to the environment. Third, some new approaches are reviewed and their contribution to the theory of the management of media organizations is evaluated. The article concludes that a theory of the management of mass media organizations needs to use several building blocks, some with relatively well-known sources in the field of management, some with more recent origins, in a critical research mood. Further research may add new dimensions to the development of a theory of the management of media organizations.