Question 3 - What kind of media institution might distribute your media product and why?

A production company for films and television provides the money for creating a film and thus sets a budget for the film. They can also have an input on what director directs the films and what actors are hired for the film. They are also involved with distributing the film and also advertising the film so that they make back the money they invest in the film.
A distribution company is the company the distributes the film worldwide, they normally screen the  film to perspective buyers who invest in the movie and then trailers are sent out to theaters to use to start making a buzz about the film before the actual release. 
I wouldn't use a distribution to distribute my film, in recent times Youtube has become a success at projecting small scale projects to major successful hits, many singers have become famous recording artists due to Youtube, small scale films have gone on to become success hits at festivals due to Youtube. If advertised correctly Youtube could possibly raise the awareness of the film and send it sky rocketing, using social networking sites such as Facebook to create a group for the film and then advertising the Youtube link or making a twitter account and again advertising the Youtube link would again raise peoples awareness. I personally think Youtube is the best way to see if you have a real winner on you hands, real people watch the videos and if it gets enough positive reviews and hits then it can project the film to success and best of all it doesn't cost a single penny to use Youtube or any of the social networking sites.
The film we created didn't require a lot of money to get going, since we are all amateurs to the business actors included it would be none profit for all of us, its more of getting our names out in the world rather than gaining money for our own personal wealth. For what money we would need there are a number of methods to gain money for the film, we could add our own personal funds, or something that is more likely to happen is to fund raise through a number of different methods.