There is plenty of news and sports online, some legal, some in a grey area and some illegal. CBC, CTV, CNN, BBC, etc all have online news that you can view as and when you want to rather than at the scheduled time. WHen there are major news items they all have live online streaming.
MLS, MLB, NHL all have online streaming services that you can pay for, plus there are many other ways to watch online sports. There are plenty of speciality channels/shows available on YouTube with professionally created content. I'm a big fan of cooking shows and thought I would miss the Food Network but I don't, most of their shows are reality BS shows rather than actual cooking. Instead I now watch Food Tube, Chiappa Sisters and some other professional You Tube food based channels.
However live sports (English Premier League & F1) really is the only reason I haven't cut the cord yet.