Esther Wojcicki is a media professional. Her biography can be found on the very reliable wikipedia.
Student Journalism; Three benefits of newspaper programs is a link to an article which lists all the benefits of having a student based newspaper, especially but not exclusively for journalism students.
Although the article refers to high school students, the same principles she mentions also apply for university students.
Esther talks about a three week cycle for the publication, the first week to come up with stories, the second week to write the stories and the third week for publication. The benefit of this cycle is that there is plenty of time to produce stories, perhaps longer form investigative stories. A downfall however is that news is not news in three weeks, so the stories published on the website wont be hard news.
The website/ newspaper that would be created for UC would be similar, except it would work on tighter time constraints. For example, saturday, sunday and monday for coming up with stories, tuesday and wednesday for writing stories and thursday working on the production so the publication comes out on a friday. The benefits of this being that we can produce hard news stories, which appeal more to employers who may be watching the site.