Deal with company backed in printed media (7)
I believe the answer is:
process
'deal with' is the definition.
(processing is a kind of dealing with)
'company backed in printed media' is the wordplay.
'company' becomes 'co' (abbreviation).
'backed' is a reversal indicator.
'in' indicates putting letters inside.
'printed media' becomes 'press' (the newspaper industry).
'co' written backwards gives 'oc'.
'oc' put into 'press' is 'PROCESS'.
(Other definitions for process that I've seen before include "Series of actions with a single purpose" , "Procedure" , "Series of steps achieving a particular end" , "that's the course of action" , "Series of actions to achieve a result" .)