Through an analysis of relevant literature, this paper examines important aspects of the new paradigm of information media, originating from the changes of social communication in general, prompted by information-communication revolution. The Web 2.0 environment, with social media at its front, brought forth a higher level of interactivity in the information exchange – information media i.e. journalistic reporting. This interactivity facilitates thorough changes which must be taken into account so as to enable production and distribution of optimal media content. The paper discusses in detail the Web 2.0 environment and its specific features, against the more traditional media environment. The paper further reports on important observations pertaining to social media and their social and communicational specificities, as well as the means by which their interactive nature influences exchange of information. The new role of public in media communication is also discussed in detail, as well as the rise of citizen journalism as a consequence of previously mentioned interactivity of the digital environment. Hereafter follows a discussion on the new habits in the media consumption, with an emphasis on incidental consumption as a product of the social media culture. Finally, the paper examines the biggest ethical issues of the modern information media in the Web 2.0 conditions. Namely, it discusses information segregation (echo chambers) and fake news, and what media organizations and social media platforms can do to contain this, socially unfavorable, behavior and minimize, if not completely eliminate, their detrimental influence.