I have modified the News module to build a site for a weekly local business news publication. I introduced the time based "edition" concept, so each article is linked to a specific edition. The News module allows you to upload and edit articles until you are ready to approve. With the "edition" enhancement, the articles are not available until you "publish" a particular edition.
You can check out the site and see if it is close to what you are looking for - http://www.triadbusiness.com
Mike
