The Institute was established in 1999 as an independent non-profit research organization dedicated to the study of the media. Over the years it worked closely with the Department of Communications of the School of Humanities and Social Sciences at the University of Nicosia.  Since 1 January 2022 it is part of the group of knowledge-creating institutions operating under the Nicosia-based Universitas Foundation.

IMME records, analyses, conveys and where possible seeks to affect the changes sweeping through the media industry, journalism, its regulatory institutions and the public that they serve. It explores the institutional, structural and societal shifts taking place and consistently promotes high quality journalism in the public interest. In an environment where media freedom and media pluralism are under threat, it stands as an autonomous and impartial observer and joins in the efforts of like-minded European and international organisations in promoting a sustainable future for public-interest journalism and better media practices and policies.