Change to the "wire" flag

We all know what "wire" means. I don't think readers do — at least, not from the readers I've talked to so far. This, however, is one of the flags that's protected. 

I want to change the "wire" flag so that the public sees a flag that says "news service". (It's OK if our staff sees "wire" in the CMS.) Otherwise, I have to adapt an existing flag ("hot"? "special section"?) so that it will say "news service" to readers, but that description will not be changed in the CMS — we just have to remember that marking "hot" means "news service". 

(I know I can create a custom flag on an asset. But I need this to be assigned in syndication, and I can only apply existing flags there.)