There are already a couple of channels out there like that.
Yea, they don't have the Saturday Morning Cartoons...
But I know there's a channel called "RTN" or Retro Television Network, of which shows constant old shows on top of the obvious TV-Land channel... but it would be nice if there was a 'toon channel which showed the shows that were licensed to NBC, ABC, CBS, and even Fox (the 80's shows were much better, however).
...either do that, or release 'em on DVD.