[Ankesh]

Pete - here is an idea for you.

Have a local version of digg.com

Where people can post their own news and links. And you can sell the ads.

No journalizing work. No writers needed. Less overhead for you.

But starting such a website will require some investment as you'll have to hire a programmer to get it done. Its not something that you'll be able to setup on your own.

(Maybe I can help you there. I know a programmer who is looking for freelance work and is from a developing country. Or you could also try rentacoder.com or some other site like that.)