I’ve thought about such a network many times. It seems to me that the difficulty would be in having as much of an effect on beliefs/discourse/narrative/votes as fox and the rest of the right-wing propaganda machine do. Because fox et al. use half-truths, innuendo, manipulation, and outright lies. And this new network would be trying to compete against fox for the hearts and minds of the people, but without using those things.
It’s like trying to win a boxing match without cheating when the other guy is using steel-toed gloves. I don’t think it can be done.