1. You can use free website hosting services like Weebly or Webs to start up your own website for free, and then migrate to a fully paid host if you so desire. There are plenty of other platforms that do this, I'm just most familiar with the two I mentioned, though I am not supporting them over any others in any way.
2. In short, no. Most content on news sites is copyrighted, and without permission from the copyright owner (CNN, Fox, BBC, etc) you're liable to be prosecuted for taking their content. I'd read up more on the specific websites about their policies, but it's probably a no-go.
3. Yes, there are a lot of applications that you can use for this. Depending on what site you use to publish your platform will determine how you can do this. WordPress is a good blogging/news platform that offers a lot of easy to use plugins for this purpose. (Again, not supporting WordPress over anything else, just giving you an idea.)
4. Lots of other things are needed. You need writers, content, pictures, copyright processes, and most importantly: news to publish.
Hope this helps at least a little!
Edited by UnloosedCake, 30 September 2017 - 04:43 PM.