Where is the "News" in the News?

I guess it is because I used to work for newspapers that I expect that the "news" should be new. If a newspaper or magazine repeated news stories day after day and week after week they wouldn't stay in the "news" business very long. How Cable News gets away with giving out luke warm stories day after day and repeat them on the weekends and then repeat them the next week and the week after I can't figure out. Those buying advertisement time must be dumber than rocks to pay for time that is nothing more than warmed-over news, and other shows that get repeated incessantly.
The consumers of what the Cable Networks put out are getting the shaft by buying cable time, sitting through hours of commercials, then end up getting cheated on content.