How does censorship work today in the media?

Wikipedia's definition of censorship is:

Censorship is the suppression of speech, public communication or other information which may be considered objectionable, harmful, sensitive, politically incorrect or inconvenient as determined by governments, media outlets, authorities or other such entities.

Censorship can work in two ways (or more).

1. Can censor inappropriate things such as nudity, gore, profanity, etc.

2. Can also censor information or news that we get from the media, things that we read too, like books.

An example of number 1: M.I.A's middle finger and use of inappropriate language was not censored while performing at the NFL Super Bowl Halftime. It was said that NBC was too slow to censor the content in time.

This was not the only incident that has happened that had to with censoring. When you watch the television sometimes, there'll be times when inappropriate language is bleeped out, or maybe something nude or gory is blurred.  

An example of number 2:

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