When we think of a person engaged in the act of reading literary fiction, the mental image that readily comes to mind is one of focused concentration. In our current information age, such a form of reading seems especially necessary, and often lacking. This causes a change in how we read, often described in terms of close reading versus hyperreading. Literary reading is typically associated with the former; screen‐based reading of information texts with the latter. Accounts of attention and distraction in reading research are often informed by a binary way of thinking. Literary reading, while often aligned with close reading, also involves selection, strategic allocation of attention informed by textual cues, condensation, and mind‐wandering. It never occurs in a state of continuous attention: we combine different modes, triggered by both textual and readerly characteristics. A challenge for literary studies in the present media landscape is to determine more precisely when readers read with close attention and when they skim, or what they skip. This article presents a theoretical contribution to studies of literary reading in the form of a literature review and a framework for attentional modulation. Education might benefit from a more sophisticated concept of such attentional modulations.