I've studied Media and Communication, with journalism. I would do it as a joint honors, English is good to do it with if you like English and business is also good. However if you're just interested in the media theories and the social side of media DEFINITELY do it with journalism.
It changes your perspective on life and what you see on TV, you will never engage in media the same again.
In regards to jobs, it is hard to find jobs that are looking for graduates specifically in the field of media, if you're wanting a job with it, do it with business.
The course requires that you get experience, and has amazing links with Demon Media, use these to your advantage, sign up to the society for Demon Media and try every from of media exposure you can. I did this too late and wish i had started it earlier on.
It is an amazing course and you will take from it what you will, you can look at it shallowly and not do the reading and rely on your common sense, or you can do the reading and understand it, or you can dig deeper and really get underneath the bones of what and how the media has come to be what it is, how its used to govern society and what media means to everyday people.
I actually love the course, and it has opened my mind to wanting to go onto further education because it spans across sociology, policy and politics, behavioral economics, business and shallow psychology.