Hi Patrick! Congrats on joining the Giant Bomb team.
I like the idea of a weekly news roundup. Perhaps using that virtual news studio set that you were testing once. One thing that I would like to see more of is posting major news related podcasts or videos (like the video talking about the Duke Nukem situation or the Bizzare Creations closure).
For everyday news text would be more than appropriate. Although the frontpage is already pretty cramped. For example when Jeff posted all the Captivate 2011 info he filled up the entire featured stories section (and even then some stuff wasn't on the frontpage). Since News used to go into that section it might push content down that you might have wanted us to see. Maybe a News Ticker (similar to the Blog Updates, Status Updates) with links to the News tab might be best.