buddhistchannel.tv is pretty good and there is often something interesting on the urbandharma news feed. You have to sift through the sponsored links here and there, but it sometimes has interesting stuff: http://www.urbandharma.org/udharma4/news.html
It's hard to say why there isn't more 'Buddhist' news, but with the way the sensational world of news works, it's probably better that there is less in the mainstream. One thing I would be interested in is a place where there is current news commentary written from a roughly Buddhist perspective. I think that would be a great venue for awareness about some of the interesting things that Buddhists are doing as they engage with the suffering in the world. Frankly, I don't enjoy stories relishing in the suffering of others, or just portraying their lives (and deaths) in a voyeuristic way. That's what tires out my spirit when I read most contemporary news.