Edit: I see the 7.x version of Subdomain does not yet support Content type domains.
If you use Domain Access, you can manually create all the required subdomains and you can define a site name for each (I believe this requires the included submodules Domain Configuration and Domain Settings). You can set a default front page for each domain you create (such as a Views page). If you want to filter by content type, you will have to configure a view for each subdomain. It may be better, however, to use the DA module's model of content affiliation, that is, when you create a node you can assign it to a specific (sub)domain. If you want to restrict on which domains nodes are viewable, you will have to do this anyway, so the differentiation by content types might not be necessary (depending on your needs).
If you do need different content types for each subdomain and you can't trust your users to choose the right domain content affiliation, you can use Domain Content Types to restrict which content type can be used for each domain, e.g. the 'News' content type is configured for use only on the domain news.example.com.
It seems the Subdomain module will do exactly what you want:
Content type subdomains: e.g. "News" content at
This is also a much more light-weight solution than Domain Access - always a good thing.