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Good direction so far, but I think some things could change.
I would try using a fade rather then slide reveal on the main featured part.
Slow down the latest news cycle and have it stop on mouseover if you can.
I'm not a fan of all the grey...It feels like it is not active or unaccessible..
The layout works, but feels kind of like a wireframe, fixing the grey issue will probably resolve this.
The featured slider should fade to dark green in the background. When it's a transparent image, the background changes colors harshly.
On a good track though my friend!

Thanks Ben for the feedback, I agree with you on point 1 and 2, I was also thinking to do make these changes.
3- you have a good point, but from usability point of view it is very easy to read on gray background. But I would experiment with more lighter background near to white color.
5- This has been done intentionally to highlight picture area. Thanks again, I would do experiment to make better.