Right now, abstraction or paraphrasing is hard to do by a computer. But I think and hopefully it will be possible in few years time. There are various open source and academic tools that can do some pretty good NLP. I'm looking into Apache OpenNLP, and WordNet. I'm hoping for 2 or 3 years time.
BTW, I have an app similar to your tldr.io. Check my HN comment (https://news.ycombinator.com/item?id=5523770) for more info about it. ;)
Generating news highlights from lots of sources might be cool as computer generated content. But rewriting an author's story in new words is not adding value it is just ripping them off.
The problem TODAY is not whether or not a computer can summarize, but rather to what extent we as humans are satisfied with the computer's summary.
In some cases a dumb summary is good enough (first 200 characters for example). Given this baseline, and a target (human summary), you have to admit it's really an incremental process.
Also, do keep in mind... this is 2 hrs worth of coding time late on a sunday night. I don't have a CS degree, just a utilitarian/curious programmer who sometimes is stupid enough not to realize how hard a problem I'm tackling. :) Someone better qualified can do a much better job. Sometimes "just good enough" is good enough! :)