Maybe not, but they already have the resources so why not be Indy's 24-hour news channel (at least in the off-hours)? Radio isn't there anymore and mid-market newspapers are a shell of their former selves, so why not play to your strengths? Better to have 'round the clock news than Jerry Springer and Rikki Lake as filler, IMO.
In fact, I wonder why more stations don't use one of their subchannels and just run news 24/7. All you have to do is run it on a loop, with live weather maybe.