The rumor is Atlanta will be a news hub, and the same anchors will provide news to Cumulus news/talk stations around the country. I also don't see a Cumulus all-news product being able to compete with WSB. But if they amortize the cost of the employees over stations across the U.S., it could still be profitable.
I wonder since the hub would be in Atlanta if they might be able to tie-in with CNN's Atlanta resources for their national news as opposed to creating their own from scratch. I don't mean them becoming CNN radio but maybe partnering with them somehow to get national news coverage. That could make the national news component work.
And I agree that even though it might not compete with the bigger established local radio news stations, it could still make money. And if they don't try to recreate the wheel and can tie into other resources, like CNN for national news coverage and local TV news for local news coverage, it would probably be very inexpensive to program.