The MediaShift Idea Lab have linked to a great list of examples of mainstream media using location-based technology in news delivery.
Personally, I like the idea of geo-tagging content so that readers can get a map view of their news across the city, state or country, and then be able to pick out what news to follow in feeds based on particular regions.
I’ve been experimenting with Yahoo!Pipes in trying to do that with news content that hasn’t specifically been prepared to be ‘locative’. It’s certainly time-intensive experimentation while I teach myself, and is yet to yield the results I’d like.
The list linked to by Paul Lamb is by LoJo connnect, who are also conducting a survey of news outlets and their offerings/experiments in locative media.