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                                                                    EXHIBIT 23.3
 
                       CONSENT OF INDEPENDENT ACCOUNTANTS
 
     We hereby consent to the use in the Prospectus constituting part of the
Registration Statement on Form S-4 of Source Media, Inc. of our report dated
October 1, 1997 relating to the financial statements of Voice News Network,
Inc., which appears in such Prospectus. We also consent to the reference to us
under the heading "Experts" in such Prospectus.
 
/s/ PRICE WATERHOUSE LLP
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PRICE WATERHOUSE LLP
 
Chicago, Illinois
February 11, 1998