It would be great.
The problem is the market can't support it, and, in case you haven't noticed, most of us work in commercial radio.
With the proliferation of talk stations on AM, along with 24hr cable news, the once vaunted appeal of a 24 hour news station is much less- there's other places you can find out the news-
not to mention the basic problem- what is 'news'? I dropped by KRLD a couple weeks ago and they had Chuck Schecner (sp?) talkingto a fire chief on teh scene of some fire, and audio from a dallas city council meeting. While both of those technically might have been 'news', since I didn't lose my house to fire, and since I don't live in Dallas, neither of those news stories held the LEAST interest to me.
KRLD is in a death spiral. Less and less people care to get their 'news' from radio, so less and less listen. The less listeners, (i.e the less money) the less staffing they have to really cover whatever they think is 'news'.