Hi Sara,
If the articles are time sensitive but high quality, I wouldn't noindex them. They could still have value in the future (for example, if a related story comes up, you can link back to the old article). You might also find ways to refresh or recycle them, such as adding a follow up, updating the information, or promoting a really great post "From Our Archives". They could also be a good longtail source of traffic for people looking for information on past news/events.
Google will be able to index old and outdated articles, but it's smart enough to know that these posts are old and outdated and therefore won't assign big chunks of page rank to them.
However if the articles are low quality, I would take action to improve the good content/poor content ratio. The ideal situation would be to improve the articles themselves, but that might not be a feasible solution if you've been publishing three per day for an extended period of time. I would conduct a thorough audit to see what content could be saved/improved and what content should be deleted. I wouldn't bother with no index or canonicals - if it's good content leave it up and let it be indexed, and if it's bad content that can't be saved, remove it.
Finally if you are redirecting old articles, I would be careful about where they redirect to. Ideally you'd want to redirect from a low quality article to a high quality article on the same subject. A big increase in URLs pointing to the main news page could raise a red flag, and could force readers to look for information unnecessarily.
Good luck!