Definitions:
Owned media: A message through a company controlled channel (e.g., brand website, blog, mailing list, Twitter, and Facebook account)
Paid media: A message that's purchased to appear on a channel not controlled by the company (e.g., Online ads, paid search, sponsorships)
Earned Media: A message that's passed between consumers as a result of an experience with the brand (e.g. Customer-created content such as tweets, comments, review/recommendations, WOM, buzz, viral, etc.)