The Internet is not lacking in anime- and manga-related websites. News sites and blogs carefully present (and in the case of the latter, often dissect) new announcements, series, toys, and everything else related to Japanese comics and cartoons. However, the Anime News Network has proven to be the best place for me to find current news.
Like its name implies, the website reports on anime- and manga-related everything, from new series to ending series, anime and manga rankings, series legally availible online, and everything else. However, that's not all. The website posts daily reviews of DVDs and manga, weekly articles, previews/reviews of seasonal anime, and more.
Up-to-date news articles aside, the site is also worth visiting just to read the articles and features. Weekly posts include The X Button (anime-related video game news and reviews), Astro Toy (reviews of anime-related toys and figurines), Buried Treasure (forgotten series that are reallly good--sometimes this is posted as Buried Garbage, which showcases a series that deserves its obscurity), Hey, Answerman! (question-and-answer column), and Anime News Nina (webcomic), among others.
Less frequent are the features, which include previews and reviews of current anime, interviews, accounts of travels (such as to the Tokyo Anime Fair), and more. The features and articles are usually well-written, entertaining, and even informative.
In addition to all this, ANN (as it's called) also boasts an encyclopedia, videos, an active forum (always with links from news posts, articles, and features for discussion), and even a way for users to keep track of the anime they've watched, manga they've read, a chat channel, various contests throughout the year, and more. The website is a one-stop site for all the information I look for to keep up with the anime community, and it does a great job not only reporting, but also entertaining with its other features.