And is even being tried currently, as some of the posters have pointed out below.
The problem, as I see it, is that our movement remains small. The audience wasn't even big enough to keep Judge Nap on TV with his own show (granted it was on FBN, which no one watches, and isn't in that many households).
In order for such a plan to work - i.e to create a Liberty Network - we need to have compelling content that reaches the masses - beyond just hardcore libertarians. As long as we stay embattled with all this internecine warfare, and speculating on ridiculous conspiracies (no doubt there are conspiracies. But then there is the ridiculous), it isn't going to work, because there won't be the viewers and without the viewers, there won't be the ad revenue, and without that, there won't be a network.
So just as a reality check, we can barely keep this one little website on the air. Your idea is a great, grand and noble one, but the bottom line is that so far, we don't have the numbers to make it profitable.
Who is Cornmeal Smithy?