In the wake of CBS's announcement of their plan to develop an online 24/7 online news presence, Wikipedia's WikiNews is actually doing it: http://en.wikinews.org/wiki/Main_Page
"Info central: Wikipedia, the long-running, grassroots, “free encyclopedia” (wikipedia.org), sharpened its news chops on Thursday after the London bombings. Its site snowballed with text throughout the morning and continues to grow with compilations of information of all sorts, from backgrounders on previous terrorist bombings to emergency contact numbers. Links to various media outlets, including news blogs at The Guardian and the BBC, were also helpful. As a general spider web of user-provided, hyperlinked data, Wikipedia continues to evolve beyond its early, dodgy reputation."
http://www.kansascity.com/mld/kansascity/12096599.htm
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