A new story placed earlier and rest (3,2)
I believe the answer is:
lie in
'rest' is the definition.
(lie-in is a kind of rest)
'a new story placed earlier' is the wordplay.
'a new' becomes 'n'.
'story' becomes 'lie' (story can mean a fabrication).
'placed' becomes 'i' (I can't explain this - if you can you should give a lot more credence to this answer).
'earlier' is a charade indicator (letters next to each other).
'lie'+'i'='liei'
'n' put after 'liei' is 'LIE-IN'.
'and' is the link.
Can you help me to learn more?
(Other definitions for lie in that I've seen before include "Extra time in bed in the morning" , "Make a late start" , "Long stay in bed in the morning" , "Extra zeds in the morning" , "An idle rest in bed" .)