Awesome! Thanks for mentioning this.
For hosting, I'd recommend Digital Ocean. Their $5/mo plan should do us alright, and we can scale quickly in case of Hug of Death. I would offer hosting it on my agency's servers, but I don't think they'd withstand the bandwidth if this thing takes off. If we don't have the funding for that yet, I wouldn't mind funding it for the first couple of months.
I think the best course of action in terms of software is to just install a wordpress. It would be easy to template out a site, and anyone with enough tech skills to post on reddit would be able to update the posts, plus we could delegate poster accounts so that everyone with posting access doesn't have admin access. This is also good because it seems like /u/Skywalkerelf and I both have PHP experience, which wordpress runs on. Also wordpress is free/open source.
With the Wordpress stack we'd also get a mySql database installed, so if and when we decide to build a little webapp for this thing, we could probably use that database (or stand up another on azure/DO, again depending on bandwidth and funding requirements).
When it comes time, we can set up a Trello for the Reddit Releases l33t web dev squad and start delegating out tasks. It'll be fun and I think we'll all learn a whole lot.