An idea that's slowly catching on in traditional media is implementing social media for an integrated marketing style. While social media regularly references traditional media, they often have to resort to using more social media such as YouTube to draw attention to the traditional media event.
Old School Media versus New School Media
In many cases, it seems that truly serious integrated marketing strategies aren't going to happen in the near future. There even seems to be a bit of antagonism there, in some cases. Bloggers are treated by law as journalists, but you can bet that traditional journalists won't acknowledge many bloggers as actual journalists.
Some elements of fully integrated marketing are already in place, but not being used to their full advantage. Nearly every major company and many smaller ones have Web addresses that they advertise in their traditional media markets. Every so often, one might actually hear a news anchor almost begrudgingly say, “...or you can visit our blog at...”