I just heard that Wikipedia, the collaborative encyclopedia is looking to set-up a volunteer news service a la OhMyNews.
More info on http://meta.wikimedia.org/wiki/Wikinews
To view the wikinews demo service: http://demo.wikinews.org/wiki/Main_Page
From the Wiki website: "(..)Wikinews should grow into a very broad news source that even covers relatively minor events in very specific fields ("Linux kernel 2.6.7 released, FP crash fix"). (...) Our goal is that you can trust us more than you can trust other media, because we tell you exactly what we know and with what level of certainty we know it. In practice this means that factual information will always be sourced, even if it is to an anonymous source who has contacted a Wikinews reporter."
That trust issue again...