Interesting idea, but baseball and soccer likely already cost them money, F1 racing would cost them more, as well as regular live music shows (big acts would cost a lot, small acts / venues would need a lot of vetting), and if they put objective news on, half the country would boycott, because it's not what Fox is telling them - they have News+, but that's an aggregator and can be tuned to each person's tastes.
I'd like to see them expand, carefully, in ways that keep up quality without making the price skyrocket.