There are several different options as far as the local media. Here are some that should satisfy your news cravings (if you read Portuguese):
Iporto is a free publication listing events in the community, ranging from art exhibitions and festivals to concerts and theatre. Find out about the newest restaurants and entertainment venues here.
Jornal de Notícias is a daily paper with hard news, celebrity mischief and sports.
Metro Porto is a free daily paper dealing with local business, events, news and sports.
The Destak was the first free daily newspaper in Portugal and covers the latest national and international news, sports, entertainment and also celebrity gossip news.
O Primeiro de Janeiro is yet another daily with a long tradition in Northern Portugal.
The Público is a reference newspaper that boards the latest on several points of view, fairly and accurately, with the intention of always being one step ahead. It has a publication for Lisbon and one for Porto.
Semanário Atlântico is a recent regional newspaper, based in Vila Nova de Gaia and what intends to be a newspaper of close proximity.
If you want the latest in Sports, O Jogo gives you all the news of what’s happening national and internationally, covering the various modalities.
With regards to television, this city also has the Porto Canal, a generalist channel that covers news, not only of Porto and the north of the country, but the rest of the world.