[Answer]-Django-cms context_processors.media has been deprecated

Follow instructions provided here http://django-cms.readthedocs.org/en/latest/upgrade/3.0.html#cms-context-processors-media .

Your project probably has settings.py file which contains TEMPLATE_CONTEXT_PROCESSORS variable (a list of content processors). This list contains "cms.context_processors.media", it should be replaced with "cms.context_processors.cms_settings".