"Volume on News" is the amount by which the music in the Radio Station folder (played as random tracks) dips, or fades when a scripted broadcast, or programme from the "Events.ini" folder starts to play. It's best set as low as poss - try 0.1, otherwise you may hear the random tracks in the background of the scripted broadcast.
I tend not to mix scripted and random. I have some stations which are just randomised programmes and others which are purely scripted, so "Volume on News" becomes irrelevant.
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