They report daily and can do follow-up quickly. Magazines can offer in-depth stories. TIME's recent coverage of the Presidential race had a writer from the other person's camp as counterpoint to the stories. For example, the George W. Bush article had a writer from the Gore camp and visa versa. This allows for varying points of view within the story.
Columnists give their point of view on different issues and new decisions and speeches of the day.
The columns are usually found in the editorial section. Most papers provide liberal and conservative columnist as contrast on the issues. It is the most popular and most used. C-Span television is an excellent source of political news. It shows political speeches and rallies uncut, usually live, and in it's entirety.