Final answer:
The Universal Disk Format (UDF) is the replacement for the ISO-9660 standard and its extensions, providing solutions to limitations like file size and improved support for modern media.
Step-by-step explanation:
The media file format designed as a replacement for the ISO-9660 standard and its extensions is called Universal Disk Format (UDF). ISO-9660 was widely used for CD-ROM and related media, but it had several limitations, such as file size and directory depth limitations. UDF, however, was developed to be used with both writable and rewritable optical media, providing much greater flexibility and efficiency for modern storage needs. It supports large files, long file names, and a deep directory hierarchy. UDF is now a recognized standard and is commonly used on DVDs and newer optical media formats.