Sometimes, sort of. If you think about the things you read on the news, you'll notice that 99%+ ends up being of no consequence for anything. A lot of what people get outraged about daily is total bullshit, and it gets forgotten the very next day, but even the more important-seeming issues really average out to zero impact on the community. In terms of information, the news is a channel with absurdly low signal/noise ratio. If you want to positively impact people, your first job should be finding a channel with higher SNR.
There's a secondary value to news (or rather primary, in terms of value delivered) - social objects. Most people know what's currently on the news, so even though the raw information value is near-zero, it becomes a great conversation starter.
Local news is how I find out about ballot issues, restaurant closures and openings, new public works projects, etc, as well as more sordid things like failed health inspections or the deep dysfunction at a neighborhood school we might have sent our kid to... The SNR might not be super high but it seems useful.
Most items of local news are highly relevant to a small proportion of locals. E.g. roadworks probably just affect a few % of people using that road.
Then there are shock-news stories like violent crime. How is it relevant to know some kid from my street stabbed another kid over a pack of gum? If I want to know how safe my area is I'd look at crime statistics collected over years and compare it to other areas.
There's a secondary value to news (or rather primary, in terms of value delivered) - social objects. Most people know what's currently on the news, so even though the raw information value is near-zero, it becomes a great conversation starter.