To avoid further confusion, I would point out that Windows Mail and Windows Live Mail are two different programs, and that neither of them looks like Outlook nor works like Outlook (though they do look similar to Outlook Express). OE was replaced by WM, and this in turn was replaced by WLM.
Outlook is [among other things] an e-mail client which is totally different from either WM or WLM (or OE), and [as stated above] Outlook does not of itself include a newsreading capability, though you may be able to use Outlook to call up a newsreader such as OE, WM, (or WLM?). When using Outlook to start up the OE newsreader, it confusingly displays "Outlook newsreader" at the top of the window, although it is using OE, not Outlook.
Microsoft have done a good job of confusing people by using similar names for differing products.