use layers, and activate one layer when the button is tripped using the OnClick functions to show/hide the layer
the other is to pass the textarea value to a var in js, then again using the onClick functions to either clear the box or (re)show the original text
<?
//from DB
$text = $row['newsitem'];
echo "
<script language='javacript'>
var mytext = "$text"
var clearbox=""
function changetextarea(){
if forms.update.value='checked'{
forms.news.value=mytext;
}else{
forms.news.value=clearbox;
}
}
</script>
<body onLoad="changetextarea():">
<input type=radio name=update checked onClick="changetextarea();">
<input type=radio name=new_msg onClick="changetextarea();">
<textarea name=news></textarea>
</body>
//extra code for the page
?>
code not tested
hth