Well first you would have to define what 'work' means. No one can say if it will 'work' since we dont know what you goal is.

If your goal is to get your site visitors to interact with each other on Facebook, then a group should work fine. But, if you want people to see the news being posted and then click through to your site, then maybe a Facebook page would be more appropriate.

Yes it would work because of this you can target your news related visitors. And also can take benefit from them like by way of (theme related) traffic, transfer leads into customers.

Instead create a fan page

I also believe creating a fanpage is better than creating a group. Fanpage is better for brands, organizations and companies ect.
You can generate good traffic with fanpage and also you can build a list with it.

If you're looking for your audience to create content then I would create a Group. If you are looking to get feedback on your content and push traffic to your content then I'd go with a Page.