All-media rights represent rights to your work in any form of media: print, digital, television, radio, etc.
Assigning all-media rights usually means that you are assigning the rights not only to the current medium of your work, but also to any other form of media that your work might be converted to in the future. It should be noted that many contracts do not limit these adaptations to media currently in existence; they specify that the work may be adapted in any media now known or created in the future.