This chapter deals with the transformations of media literacy as a consequence of the emergence of new media, devices, narratives, and practices. In this context the chapter introduces a new conception—“transmedia literacy”—that moves from traditional media literacy (teaching critical media skills at school) to informal learning and participatory culture practices (understanding how new generations are doing things with media outside schools). The chapter defines “transmedia literacy” (TML), shows the connections with ongoing research and pedagogical actions, and includes a first draft of the TML field as a research agenda and action program.