Starting an OSMF player on a non-available live/DVR stream will lead to a "media not found"-type error.
You could do the news presentation in the html page, and when the live streaming starts you could load dynamically the player instead.
If you prefer to do it in the player, it would involve implementing a trial-and-wait mechanism to see when the live stream is online.
Let me know if you need more details,
Hey thanks for the quick reply
where do i catch the media not found error? i suppose I can just trial and error until i get it.
I've had good results using something like: