A buzz word coined by morning news host (like katie couric) to refer to "new" mediums of media.
When the printing press was invented, word of mouth was the old media and newspapers were the new media.
When television was invented, newspapers were the old media and the 6:00 news was the new media.
Currently newspapers, tv news etc. is the old media and the internet is the new media.
New media usually refers to a group of relatively recent mass media based on new information technology. Most frequently the label would be understood to include the Internet and World Wide Web, video games and interactive media, CD-ROM and other forms of multimedia popular from the 1990s on. The phrase came to prominence in the 1990s, and is often used by technology writers like those at Wired magazine and by scholars in media studies.
The term has garnered negative connotations due to techno-utopian claims by new-media proponents about the revolutionary social and personal benefits of new media; the claims of revolutionary transformation of people's lives were widely seen as unjustified. All the same, new media have only grown in popularity, and their current ubiquity is slowly causing social changes; their initial proponents' error may have been in the speed with which they claimed media would transform society, rather than the prediction itself.
I don't care about what the press says. I get my dirt from the New Media