Yesterday, I asked myself what anyone stands to gain from paying heed to "breaking" news. Short of life-threatening events thwarted by instantaneous news (I'm drawing a blank here... Edit: eh, maybe something large scale like 9/11), there isn't a benefit to the average consumer, aside from satisfying their apparent need of constant stimulation.
I've found it much more beneficial to read well-researched articles from as many sources as possible. But "well-researched" is impossible to pull off when a event is still in the process of playing out. We need time to frame it in the greater perspective.