The study was aimed to assess the quality of news that is broadcasted through Addis Ababa based commercial FM Radio stations according to news values and professional standards. To this end, Fana FM 98.1 and Sheger FM 102.1radio stations were selected as a case study. The research specific objectives were focused on exploring the extent of news content and source diversity as well as the factors that affect the stations to broadcast qualified and standardized news. Social responsibility theory of the mass media, Agenda setting and gate keeping theories shave been employed as theoretical framework. Data was collected using qualitative and quantitative content analysis as well as in-depth interview. The time of the study was from February 10-March 23, 2020 for six weeks (Monday- Friday). A total of 314 news items were selected from evening news (Zena Metsihet) of Fana and mid-day news (Yeketir Werewoch) of Sheger radio. Using purposive sampling technique, two editors and three reporters from each FM radio station were selected for individual in-depth interview. The finding of the study revealed that there is a serious problem in Fana FM 98.1 to broadcast qualified and standardized news stories while the problem is relatively minimal in Sheger FM 102.1 radios station. To some extent, the selected FM radio stations used diversified news source to broadcast diversified news contents. The findings of the study also indicated that media owner, self-censor-ship and editor’s decision, news sources, economic and political elites have a great influence to broadcast objective news. To tackle the above problems, media owners and political elites should avoid their interference in news making process. FM radio stations also should have to give a great emphasis to public interests. They have to practice broadcasting critical news stories that helps to foster democracy and improve the life of societies.