@rosborne979,
Much like charitable contributions, a good deal of the money which is donated to Super PACs goes to "administrative costs," which means salaries and perquisites of staff members, as well as fees for law dogs, researchers, media consultants, etc., etc. Whether or not it is Super PACs, a good deal of the money does go to media outlets for print, broadcast and online advertising. Thirty second television spots can really eat up cash fast, especially if you're attempting to reach your target audience at dinner time, and through local and or national news broadcasts. After administrative costs are deducted, the biggest amount of money, where being spent by the political action committees or the candidates campaign itself, goes for television advertising.
EDIT: I forgot to respond to a suggestion of yours. While undoubtedly media outlets contribute to campaigns and political action committees, i doubt that it accounts for very much of the total. A lot of the big bucks, especially that contributed to political action committees, comes from corporate and organizational sources (NRA, AARP--organizations with political agendae). The corporate sources are likely to be playing both sides of the fence--contributing to both the Repulicans and the Democrats. In time honored corporate fashion, they hedge their bets. I am appalled and disgusted that there are no limits on Super PACs, but given that there aren't, i certainly can't blame corporations for spreading their influence money.