What is new media?

Many people hate the term new media.What exactly is new media,what's its business model and when did old become old?

Greg Marx agrees as he reports that

Politico co-founder Jim VandeHei has been elected to the Pulitzer Prize Board went out of its way to cast the move as part of the Pulitzers’ growing (and welcome) acceptance of “new media.”

Well as he says it's new,it's media and it has been a success and it was on the Web from the paper’s inception, and it has always cultivated high-metabolism reporting that matched the Web’s bottomless appetite for content.

But the way that Politico produces much of its content—by paying reporters who scurry around interviewing people—is decidedly old-fashioned

I suppose new media means a web presence,it means using social media tools to enhance content,but which media doesn't in this age?