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Quantifying how meaning propagates through communicative exchanges remains underdeveloped in computational linguistics. Here we introduce an information-theoretic framework that quantifies the directed flow of semantic content between interlocutors and decomposes multi-source contributions into redundant, unique, and synergistic components. Our approach leverages large language models as probabilistic estimators of natural language to compute two measures: semantic transfer entropy (STE), which captures directed predictive influence between speakers, and semantic partial information decomposition (SPID), which resolves how multiple sources jointly shape a target's language. Across four experiments we show that the framework detects reduced information flow in cognitively rigid dialogue, captures the dominant role of persuaders in shaping discourse, distinguishes high- from low-quality psychotherapy by the directionality of therapist-client information exchange, and reveals synergistic premise contributions in argumentative essays. This framework opens new avenues for studying information dynamics in digital discourse, pedagogical interactions, clinical dialogues, and any domain in which the structure of linguistic exchange is of research relevance.