"Mark Pesce, lecturer at the Australian Film Television and Radio School (AFTRS) writes here and here about using p2p networks, specifically bittorrent, to create a grassroots television network.
He cites as an example the BBC's "Flexible TV" internet broadcasting model using that as the core of a "new sort of television network, one which could harness the power of P2P distribution to create a global television network."
Producers of video entertainment and news would provide a single copy of a program into the network of P2P clients, and the p2p network peers distribute the content themselves.
Thus, a virtual 'newswiki' where the content is distributed bittorrent using some sort of 'trusted peer' or moderator mechanisms as a filtering/evaluation mechanism. So what is stopping anyone from doing this now? Awareness of the concept, perhaps? Lack of broadband connections? Lack of business models for content producers?"