I asked our proofreader about that once when he let the noun-verb agreement slide for the first time (and he's usually quite the stickler for details like that). He said it's at a point where it's evolved in common usage to essentially become a collective term, like "pride" for a "pride of lions".
Strictly speaking, it's not, it's still the plural of "medium".
ETA: He finds it irksome, BTW.
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