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.
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.