Is there any way to watch live news on an AppleTV? This is the only thing that's preventing me from cutting my cable.
The Apple TV wasn't designed for that sort of thing; it's for all intents and purposes a closed system (i.e., iTunes-stored content only).
At the same time, if you have a flat screen TV, then chances are you can hook up a PC or Mac to it using it as a monitor and grab newscasts off the web (a friend does this and it works great). Also some of the higher-end flat screens offer links to content distributed by the manufacturer (Sony's Bravia line comes to mind here).