hotwire,
I'd love to see more internet and FTA channels, and the idea of getting users to contribute sounds good, but if you ever go live, you'll need someone with a journalistic or legal background (maybe that's you?) to screen those contributions before you air them. If someone sends in a fake video showing a celebrity drowning kittens or something, because you pre-screen the contributions you would be as liable as the contributor for any damages that resulted.
For filler, you could run "video press releases" issued by companies and governments.
Sounds like a lot of work, but with enough people, a channel like that could work. Just don't get burned.