I've been wanting to something very much like this for a couple of years now - very cool. Provided that basic metrics and controls could be established, this sort of thing might tell us a GREAT deal about global (and regional and national) news cycles actually function.
With a bit more background work, it might also help us to understand (and thus make informed arguments about) the effects of media consolidation or plurality (as well as national politics and culture) on what's put forth as news.
VERY interesting. Sign up for the listserv.