According to some industry experts, print media is on the way out. It's apparently being pushed aside by computers, the internet, electronic book readers and so on.
There are definitely some sectors where print is struggling to fend off the technology revolution. For example, magazines are struggling to some degree because so much of the information in them can now be found online and because many advertisers can no longer afford the high price of print media.
In terms of marketing (not advertising), print media is very much alive and kicking. Many people still like the reassurance of seeing something in print. It makes a company more "real", because you have something tangible in your hands to read and feel.