Robert Andrews documents the BBC's NewsWatcher, an internal Google News like service that automatically adds related links to news stories. This is a nice example of how a media organization can take advantage of syndicated content. While fraught with a number of hazards, e.g. playing up the competition, inappropriate links, etc., NewsWatcher style technology could help a news site add context without increasing manpower.
This could be especially useful if, as is increasingly true in the States, the news organization owns a bunch of properties that it would like to cross link. Now if Google makes Google News rebrandable, organization targetable, and privately web service accesible, they could make an offering to folks like Tribune Co., Knight-Ridder, NY Times, et. al. Don't know if they'd bite, but it could be another revenue stream.