You can recreate the News if you wish to - it is a content item just the same as other items that you have published. If you create it as a Folder rather than a Page then if you create more items "inside" it then they'll be shown on the page itself. (This is equivalent to putting the Child list includelet on a normal page, whose job it is to show a listing of all items "inside" another item).
Once you have created News, you can then select it in the Site Map and click on Create Items to create news stories inside that folder.
Hopefully this makes sense! :-)