At work (http://cafe.com), I've actually been working on something similar with our CMS (Monsoon). We're trying to use technology to make telling cohesive online narratives a lot easier.
Interestingly, one of the biggest hurdles so far has been in decomposing stories. Media traditionally treats each story as a big blob of text (in most cases, HTML), but we're trying to change that so that each story is actually just an arrangement of smaller tidbits (we call them droplets). Switching to that model helps us to encode a lot more semantic information, and also to reflow stories effectively for context.
We're not yet to the point where we integrate/suggest droplets from other stories automatically, but that's definitely the goal. Maybe we could integrate something like Newsclip.se to encourage that.
(PS. If you want to help us get there, we're hiring: http://cafe.com/careers)