SEO Benefit
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It sounds like you have 3 different sites. It is generally better to have all that content on your main site, so that when a piece of content earns links, it provides a boost to your domain's authority, which will help your money making pages rank better.
Getting rid of the news site will not hurt your SEO very much in that you are probably only getting credit for 1 inbound linking domain from your news site if it is linking to your main site. If your news site was not generating a good amount of relevant quality traffic and you don't want to stick with it, it is probably a good idea to 301 redirect the site to your main site. You will transfer about 90-99% of the news sites' link value to your main site.
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Will getting rid of the news page will hurt our rank.
Not if you make the change correctly.
If you simply take down your news category and lose any links and traffic generated by that feature of your site, then yes it would hurt your rank.
If you move your news content to your blog and 301 users to those pages, then no it would not hurt your ranking. You are just re-arranging existing content. There would be a minor loss of link juice from the 301, but if your new videos add any value to your site, then you should end up well on the positive side.
The only issue is public perception. If there were users going to your site because they liked your news section, then they see it is gone, they could stop visiting. As long as the transition is handled smoothly you can retain that traffic and not have any negative effects.
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Also it depends on how good the news content is... if the news is great and interesting stuff it will get lots of links, if it's just company announcements and generic industry news then it probably won't. Same for the videos really... it's not so much what the media for the content is, it's more about what the quality of the content is.
i.e. If you have a great news category that puts out original stuff, but are replacing it with videos that aren't as good as your news then that will negatively affect your SEO. Or if you have mediocre news and are replacing it with great video content, that will positively affect your SEO. If both are good, keep both
