The media industry has been dragged kicking and screaming into the modern world and forced to adopt new media technologies and drastically overhaul its operations.
The successful new media model is a combination of three components: professional media, user generated media, and smart machine media (e.g., automated news aggregation).
Buzzfeed is an example of this trinity: it has top journalists producing original content; it makes great use of social media; and it has a tech platform that leverages the algorithms of distributors such as Facebook and Twitter.
Forbes is another example of a large media company with professional journalists, user generated articles, and a good technology platform.