The swearing in of the new Congress isn't the most exciting news event, but I notice that CNN and MSNBC are covering it live, starting with the House Chaplain's prayer, while Fox News is informing me that an "Ivy League Prof [is the] Leading Suspect in Wife's Death." Fascinating.
UPDATE: I checked back at 12:25 or so, and they had two talking heads debating Nancy Pelosi and Cindy Sheehan, which is sort of like covering the swearing in. After this, host Bill Hemmer has returned to stories about missing sailors, stranded cattle in New Mexico, and the resignation of White House Counsel Harriet Miers.
Fox covered the Ford funeral, which was (if possible) more predictable and uneventful than the swearing in, from beginning to end and with cameras at every stage of the ceremony: California-DC-Grand Rapids. There's really no reason for the network to avoid covering the GOP's terrible day, especially when it features stuff like Robert Byrd saying "So help me Gaaaaahd!" as he points his bony hand toward the rafters.
UPDATE II: This is fascinating stuff; I occasionally forget that our congresspeople are twelve years old. Instead of merely saying "Pelosi" or "Boehner" in the vote for speaker, the occasional rep is trying to "zing" the name with something like "I proudly cast my vote for the first woman to serve as speaker, the honorable Nancy Pelosi!" Many are unable to avoid shouting "woo!" or "yeah!" as, from the viewing section, Tony Bennett and Richard Gere look on. Republican Michelle Bachmann voted Boehner in some funny way that didn't get picked up by the mics, but visibly caused her side to chuckle.
However, some cattle are lost in New Mexico.