This is a great idea, and some very interesting points and suggestions in the comments.

I'm a Howard Stern fan and I like what they're doing with their channels in regards to programming and this is what I can see for a WP-centric network. Podcasts of all levels and subjects, including dev, business, beginner, maybe some little "news" clips between shows, that sort of thing. Oh, and perhaps a team of live reports from various WordCamps. Heck, even short content shows like covering Meetup presentations.

If done right, it could really become quite a behemoth of content relevant to WordPress users of all types and skill levels.