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This page in a nutshell: Events need lasting impact in order for an article about them to exist.
Lassie rescuing Timmy from the well might make for a good story on a slow news day, but it doesn't make for a good Wikipedia article.
Wikipedia is NOTNEWS. In order for an event to be considered notable enough to warrant an article, we expect it to have some kind of lasting impact. News publications, particularly small-scale or local ones, have a tendency to publish trivial stories to draw in clicks when there's not much else going on. Many of these stories have some sort of remarkable quality to them which might make somebody think they're worth writing an article about; a credible claim of significance, and might even be published by a fairly high-profile news outlet, but a moment of reflection will lead to the conclusion that nobody's going to remember or care about the story a week from now, and so it's not the sort of thing Wikipedia needs to have an article about.
A related phenomenon is the tendency of local news outlets to publish stories about goings-on at local schools and the actions of their students. The sheer volume of coverage produced by these outlets might give the impression that the school is notable, but in much the same way that we generally don't consider trade publications independent for the purposes of establishing notability of organisations within their trade, we similarly should be cautious of using local news outlets for establishing notability of their nearby schools, given that they have an obvious interest in reporting on those matters. For reference, see some of the news coverage mentioned in Wikipedia:Articles for deletion/Sandhill View Academy.
