The move away from traditional, or mainstream media is currently accelerating as more and more people switch to the internet for their information and entertainment. Sales of newspapers are declining and television viewers are switching off in record numbers. It's popular in the blogopshere to argue that newspapers will eventually fall, and radio is hardly popular. However, given the current marketplace, television will be the first traditional media medium to completely fail, where as radio has some life left in it yet. Newspapers will survive, but the newspaper of tomorrow will be markedly different.
But Interactive Marketing Communication will still be there, making existing analogue media much more effective and accountable whilst at the same time making Social Media suitable for advertising.