The purpose of the /media directory is to provide a consistent place
across different systems for users and applications to mount
removeable media.  For example, this might be used by KDE's
Media Manager feature in Konqueror.  That will look into /etc/fstab
to determine where to mount a volume, and for now this still defaults
to using /mnt (e.g. /mnt/cdrom as the cdrom mount point), but you
may edit your /etc/fstab if you'd like to follow the FHS
recommendations.

See the /mnt directory also.