Media Management is a specialised area of business administration which teaches the students about development, planning, functioning and brand building of media enterprises. The core task of media management professionals is to build a bridge between the general theoretical disciplines of management and the specifics of media industry. The course or programmes in media management train students in terms of developing an understanding and experience on how various functions such as production, marketing, human resources, finance and operations are run at a media house. Media management programmes, like other management courses are a blend of theoretical and practical aspect to get holistic exposure and learning in the field of media and communication. The programmes focus on media economics, strategy and on media and cultural policy. It also gives students pursuing media management course understanding in the latest concepts and practices for managing traditional and emergent media platforms

• Media, which primarily exists through the mediums of print, television, radio and Internet, is a versatile and ever growing field which offers lot of learning. New media or Internet is rapidly expanding through social media platforms like Facebook, Twitter, Instagram etc.

• According to a report by Exchange4Media, the Indian media and advertising industry grew by 17.6% in the year 2015 and is projected to grow by 16.8%.

• Another report by PwC mentions that total worldwide entertainment and media revenues will rise at a compound annual growth rate (CAGR) of 5.1% over the coming five years, from US$1.74trn in 2014 to US$2.23trn in 2019.

• With the rise of avenues in the Media industry, the job prospects are also expected to increase in the functions of Sales & Marketing, Operations, Human Resource Management among others.
  

I have attached a link here in this answer to help categorise all colleges that you could apply to for your pursuance of Mba in Media Management

http://www.htcampus.com/media-journalism/media-management-courses-in-india/

I wish you all the very best for all your future endeavours. I hope this helped.