Why don’t more TV shows mimic the Daily Show formula?

I’ve long wondered why more people don’t mimic the Daily Show formula of combining real news with satire, sarcasm and comedy? Why couldn’t this be applied (to great success) in lots of other areas of news from celebrity gossip to local news to finance?

Along these lines, I read with some interest a few weeks ago that former TechCrunch writer Paul Carr’s new company’s first publication “The New Gambit” is going to try to do exactly this:

Our first publication, launching in January 2012 will be ‘The New Gambit’, a weekly news magazine that’s maybe best described as “the Economist as written by the Daily Show”. In other words, it’ll tell you everything you need to know (and maybe even think) about the week’s events, but it’ll make you laugh your ass off while it’s doing it. link