Mass Communication

Yes, it is. There must be a clarity in your mind that you want to get into media or media related jobs. Mass comm. does not mean print and electronic media alone. Plenty of government jobs ask for masters in mass comm. Public relations officers and other profiles demand this. As you have a good base of account and commerce as well, it increases your prospects to claim jobs in financial domain or banking mass communication/PR jobs. And I believe, MA in mass comm. is safer than M.Sc. or other nomenclatures of this degree.
If you have decided, then do not avoid skill development during your master degree. From where you do it matters less, how you do it is actually important.

A job of TV news reader is very simple yet challenging. You are placed before a monitor (Auto-script CRT TV). Your job is to read that live rolling news without making any blunder. They do give training for that and they also test you before placing you on-air. So, you should develop a good language skill.
News reading job is equal to reading a text book in the elementary school class room. The only difference is in school, you do that in front of many students, but in the studio you read before monitor.
You can go to your local news website or any of your favorite news channel and locate careers link, and there you can find every detail about news reading jobs.
You should have basic degree with good score. It is not compulsory to pursue media related Diploma courses, but it will be an added advantage, if you have one.
Below mentioned are the pointers, which they expect from you as a news reader:
1. A university degree or equivalent.
2. 5+ years of relevant experience, demonstrating knowledge of the broadcasting industry and an understanding and awareness of issues and events.
3. Excellent interviewing, reporting and writing skills including live coverage, from in-studio as well as in the field.
4. Credible, effective and authoritative on air presence and presentation.
5. Ability to gather from a variety of sources and platforms and to file to a variety of platforms.
6. Ability to work effectively under pressure and deadlines.
7. Strong interpersonal and team playing skills as well as creativity and flexibility.
8. Ability to analyze a wide range of subjects and make complex issues easily understood.
9. Demonstrated ability to generate lively discussions on air, and through social networks.
10. Ability to generate original and innovative material. Interest in a diverse array of subjects.
11. Established track record in breaking news, strong news judgment and demonstrated.