I need the space that Itunes Media takes on my c drive. How can I recover this space?

Please check out the following Apple Support article for details on how to move an iTunes Media folder to another location to see if anything was missed when you moved yours.

You can easily back up your iTune media to a different drive, however when you back your iPAD, iPHONE via iTunes for some reason they only backup in to the C drive, which again takes up a great deal of HD space!!

Try deleting old backups in case you have old devices that are no longer in use

Been having the same problem myself and ended up getting a larger HD.