Aniqa - like with all research paradigms, it really depends on what questions you want to ask, what type of sample you want to use etc. Henna is probably justified in leaning towards qualitative. Most news media is about 'narrative' and 'story-telling' rather than measuring news - but it may be that you say perhaps want to survey newsreaders etc - and that would take you into a much different direction.
Depending on the nature of objectives, sometimes quantitative methodolgy suits more but most of the time qualitative descriptive analysis answers all questions.
In similar projects I've used AntConc 3.3.5, a freeware corpus linguistics analyzer (available at http://www.antlab.sci.waseda.ac.jp/antconc_index.html), as well as LIWC2007lite, a commercial but cheap linguistics inquiry tool (available at www.liwc.net).
I would suggest using both. A quantitative analysis to get the figures and a qualitative analysis for more in depth analysis. Or you can conduct the study in two separate stages and than perhaps analyse the findings in light of each other.