Yup.
The market for such a venture's pretty slim pickings right about now, because, first and foremost, whatever information a gamer needs, he can get straight off of the internet. Not to mention the fact that there is pretty heavy competition already in that area (GAMEPRO, EGM, PSM, etc). Local events are also covered via the internet.
Long story short, people wouldn't pay for something they would otherwise get for free. You're better off saving your money.