This reminds me of the O.co fiasco... Will be interesting to see if this follows the same trajectory that did. I am not opposed to new TLDs, but they are risky for consumer-facing brands IMHO, better suited to B2B usage.
Mainstream media is a losing game, a shadow of what it once was. They've lost the trust of a lot of people, and many people get a lot of their news elsewhere these days.