Could BlogChina become a news agency?

One of the purposes of news agency is "first". Now BlogChina, the so-called "biggest portal for Chinese bloggers", said they were capable of getting the first-hand news, too. It said that they were the first to report Shanda's acquistion of Sina. The story included one sentence, saying Shanda had become the biggest shareholder of Sina after buying 20 per cent. Both shares rised sharply after the announcement". Fortunately, the story was true, thought the exact figure is 19.5 per cent. So my question is: Could they become a news agency operating in 24 hours and competing with Xinhua, Reuters and Bloomberg, in the future?