News video/audio with transcripts (or consistent subtitles)
I recommend you watch CCTV-4 (Chinese international). Many of its programs are subtitled in BOTH Chinese and English. Plus, its translation is professional and accurate.
However, these programs are mostly documentaries and shows. I've not found any news program with English subtitle in China.
EDIT: There is a Simplified Chinese subtitled news program on J5, a Hong Kong TV channel, called Putonghua Xinwen Baodao (Standard Mandarin News).