Take a look at this site Current.com and see how you feel about it

Current combines the best of TV and social media to create a fully integrated TV and online network. Included among the many initiatives Current has pioneered are: The first online studio that developed viewer-generated content for TV; the world’s first crowd-sourced hourly newscast; the first participatory movie reviews; viewer-created ad messages (VCAMs); and the first twitter broadcast live on TV. http://ping.fm/5Q2PZ