This preregistered project examines the general belief that news has a beneficial impact on society. We test news exposure effects on desirable outcomes, i.e., political knowledge and participation, and detrimental outcomes, i.e., attitude and affective polarization, negative system perceptions, and worsened individual well-being. We rely on two complementary over-time experiments that combine participants' survey self-reports and their behavioral browsing data: one that incentivized participants taking a ‘news vacation’ for a week (N = 797; 30M visits) in the US, the other of 'news binging' for two weeks (N = 828; 17M visits) in Poland. Across both experiments, we demonstrate that reducing or increasing news exposure has little -- if any -- impact on the positive or negative outcomes tested. These robust null effects emerge irrespective of participants' prior levels of news consumption and whether prior news diet was like-minded, and regardless of compliance levels. We argue that these findings reflect the reality of limited news exposure in the real world, with news exposure comprising roughly 3.5\% of citizens' online information diet.