Multiplayer "<Player> killed <OtherPlayer>" messages

I'll cut right to the chase. We've got a multi-player deathmatch game. We would like to implement a box on the screen that recieves and displays text updates when a player kills another player, in a similar fashion to CounterStrike or TF2 (no graphics, through, just text.

I've been writing so much script at this point that I'm not able to come up with anything. Essentially it would be like a chatbox that doesn't allow user input, but the server could send strings of text to it that it would then display to all players. Each update would push the previous text string upwards, but only to a certain height. If the box goes very long without any updates, all the text would fade, but reappear once an update is recieved. Here's a visual:

(First update gets sent)

"PlayerX has killed PlayerY!"

(Next update gets sent)

"PlayerX has killed PlayerY!" <---gets pushed up the screen a line
"PlayerZ has killed PlayerX!" <---new message appears below old message

So, any ideas on how to implement something like this?