That's not what a plot hole is. You're thinking (incorrectly) that it was an unmotivated character action.
You forget that these are corporate lackeys and television producers. They can cash their paychecks until the Network becomes so unprofitable that everyone has to be let go. When they go looking for new jobs, what are they going to tell prospective employers: "I know I oversaw the destruction of an entire network, but it was the head of the parent company who wanted that to happen!"? They felt trapped. They didn't know Jensen's motivation for keeping Howard on the air. The only thing they cared about was their futures.
Besides, their sole purpose from the beginning was to save a dying network. Moreover, Hacket wanted revenge. Howard cost him his big promotion. And Diana WANTED to see violent crime on television. The whole thing started because Howard threatened to kill himself on the air, which allowed her to take over programming the news division. She knew from the beginning that an on-air death would boost ratings. That's why she made a deal for the terrorism tapes (which is why she had the ELA do the killing). She was a soulless, amoral humanoid.
Did you actually watch the movie?
http://www.imdb.com/title/tt0074958/
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