Thank you for posting in the forums! I'm sorry to hear you are unable to get News Channel 8 to show up in your favorites on your phone.
Have you tried setting the favorite from the mobile device? Or did you only do so on a computer? If you have and it is still not working, it may take reconfiguring the Slingbox to get this to work for you.
I would recommend hard resetting your Slingbox 500 to factory settings. After you do this, your TV will prompt you to run the Onscreen Setup again. After the setup is complete, try adding he favorite again and check to see if it works on your phone.
Below is a link to an article that explains how to reset your Slingbox to factory settings:
If this still does not work for you, you can also try uninstalling and reinstalling the SlingPlayer application on your phone.
Hope this helps!
The Sling Moderation Team