Exactly What It Says on the Tin: a blog whose primary purpose is to cover current events.
One type of
Current Events Blog will link to a big media news story and then have a comments section on that story. People often read those for the comments.
Slashdot
,
Fark
and the Mexican
Blog del Narco
are examples of this type.
Other blogs are more
ideological, and the blog owner will add
poltical commentary to the bottom of an excerpted section from the news story.
Daily Kos
and
Red State
are two such examples of this second type. The second type can tend towards
Astroturf, since they are often strongly associated with specific political parties.
Still others are just attempts to get Google
Ad Sense money, where "current events" is defined as "whatever's on Google Trends that hour."