No, this isn't possible at the moment. There were some attempts in the past, but there are no actual ports.
There are two (free) portal systems for vB 3.5:
vBadvanced CMPS and
vbPortal. vBadvanced is the most popular one.
You can submit stories and have them approved by a moderator with vBadvanced CMPS. Just create a new forum with
Moderate Threads on. Then select it as the news forum in the vBadvanced CMPS news module. vbPortal has got a more seperate news system.
There's also
GARS, a news/reviews/tutorials system for vBulletin. The lite version is free, but for the normal version you have to pay. There aren't any official vBadvanced CMPS modules for it, but this will change in the near future.
There's also a
ported version of Drupal avaiable and some connectors (
Joomla Connector/Bridge for example) for other CMS's.