What you are trying to create is called a crawl, and you can create one by using the Roll/Crawl tool in the Titler workspace.
To open the Titler, click the "T" on the lower right of the Monitor panel. The Roll/Crawl tool is located in the lower left of the Tasks panel in the Titler.
You won't be able to create a huge, continuous crawl, but you can certainly use it to create the effect of a headline crawling right to left across the lower third of your screen.
For more information on the basic tools in this program check out my free 8-part Basic Training tutorials on Premiere Elements support site Muvipix.com.
And for step-by-step instructions for using the program and creating effects, like this scroll, you may want to pick up a copy of one of my books.
Great stuff, thank you Steve.
I've found that very useful and have done exactly the crawl I wanted. As an aside in case it's useful for others, I used the crop effect to make the crawling text stop just before what would be the news corporation's logo.
You said it woudln't be huge, but I've managed to get it pretty big so far without too much problem - so very helpful, and thank you.
Glad to hear I could help, Oli!