We have one, had it for 2 years. Hated it at first, actually, but now think its pretty good. It's a la carte service, so to speak, and most things are pay per view, as far as I can see.
There are, Ida know, hundreds of channels to subscribe to, covering varied interests, and you should be able to find news and sports on it, but I don't know how those fees are structured.
All in all, I'd say its worth it.