What is the relationship between traditional media and social media?

When you log on to facebook or twitter, you will often come across news stories shared and often commented on by your friends and acquaintances. One could say that the people you "know" online become your personal news editors. In other words, we use social media to find news, or the news find us via our friends. At the same time, as explained by Markham Nolan in this TED talk,  traditional media use social media to find and investigate news stories. Furthermore, in episode five of the HBO series The Newsroom, we saw how social media can be used by news producers to get in touch with the real people who are on the ground where important events are taking place - more or less anywhere in the world.

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