You can theoretically set up a blog like front end, either with custom coding, an integrated CMS or vB Advanced, and the vBulletin template system and Style Manager is advanced enough to edit the layout to that of a typical blog. And from what I know of add ons built on the vBulletin code, they use a set forum to get the news posts from, so you'd use the Usergroup Permissions to dictate who could post and reply in that forum which would dictate who would post news and comment on it.
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