In this article, we explore two approaches to modeling hypermedia-based communication. It is argued that the classical conveyor-tube framework is not applicable to the case of computer- and Internet- mediated communication. We then present a simple but very general system-theoretic model of the communication process, propose its mathematical interpretation, and derive several formulas, which qualitatively and quantitatively accord with data obtained on-line. The devised theoretical results generalize and correct the Zipf-Mandelbrot law and can be used in information system design. At the paper's end, we give some conclusions and draw implications for future work.