I used to stop what I was doing the moment I heard of 'Breaking News' on the TV, Radio, or whatever the source was. Breaking News was truly a new and newsworthy event. No more!
Not only do the cable news networks such as CNN, FOX News, MSNBC, and others use the 'Breaking News' for stories that just aren't worthy, they use it over and over again, declaring Breaking News on the same identical story they reported in the previous hours.
If there could be a law on 'Breaking News', it would be that it can only be used the first time the story is broadcast. Any repeat can be labeled 'Top News', but by my definition a repeat is not 'Breaking News'
While this gripe applies broadly to all of the Cable TV News Networks, I do want to commend those breaking news SMS feeds for not following this practice. If TV is annoying, imagine how repeat SMS would be.