What is New Media?

"What kinds of technologies are part of the new media? How important is the Internet to the new media? Why and how are the new media replacing and / or enhancing the old media?"

New media is just that: A new type of media for communicating. Books, phones, radios, televisions, and even Web 1.0 were all considered new media at some point. Although they're not considered new by today's standards, they were new in their time and changed the way people experienced the world. Today, new media comes in the form of community interaction with whatever media they're involved with.

The Internet is one of the biggest technologies involved in new media. Wikis, blogs, Facebook, Twitter, and even the social platforms in modern video games are all forms of new media that rely on the Internet to function. Without the Internet, none of those social platforms would be able to function.

Just because new media is "new" doesn't mean that it has to replace the old media, however. Just as Apple's WYSIWYG interface and Adobe Photoshop made publishing and picture manipulation accessible to anybody, new media is making it easier for anybody to express themselves and contribute to the online community.
(Clive Thompson on How YouTube Changes the Way We Think)

Similarly, just because TV shows are popping up all over the Internet and can even be watched from a laptop in bed doesn't mean that actual TVs and TV broadcasts are going the way of the dinosaur. The convenience factor is definitely there, but people still want to watch their shows the day they're broadcast on a 50-inch HDTV.
(Who Needs TV? I've Got a Laptop)