Installing Ubuntu on my parent’s computer today I ran into this problem: though the Windows and Storage partitions were being mounted correctly at login (how to mount ntfs drives at startup), they were displaying as “40.0 GB Media” and “80.0 GB Media” respectively.
After a bit of googling I discovered a solution: GParted + ntfs-3g + ntfsprogs.
sudo apt-get install gparted ntfs-3g ntfsprogs
Then open GParted (System > Administration > Partition Editor or sudo gparted), right click on the offending partition and choose “unmount”. If the drive is not mounted then unmount should be greyed out.
When this is done, right click on the partition and select “Label”. Enter the desired name of the drive here.
Repeat for each partition.