Well media and advertising go together hand in hand. Advertising is in media and media is advertising. To understand how they are interrelated one must understand what each is specifically.
Media by definition means: the means of communication, as radio and television, newspapers, and magazines, that reach or influence people widely. Advertising by definition is: the act or practice of calling public attention to one's product, service, need, etc., esp. by paid announcements in newspapers and magazines, over radio or television, on billboards, etc.
As you can see the two coincide with one another as such that without one another they could not exist as we know them.
The media primarily exists to advertise or spread the word to the entire world that is watching or listening. At this point in time newpaper subscribers are down while tv news ratings are up. While some channels are devoted purely to advertising others that are not still have advertisements in between programming and shows. With the exception of pay channels such as HBO, Cinemax, Showtime, Encore, and Starz who's prepaid fee's replace revenue earned from advertisements.
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