A possibly expensive publication! (5)
I believe the answer is:
libel
'publication' is the definition.
(I have seen 'Defamatory publication ' mean 'libel' so perhaps 'publication' could also mean 'libel')
I can't explain the rest of the clue.
Can you help me to learn more?
(Other definitions for libel that I've seen before include "Slanderous statements in print" , "Crime of publishing false statement that damages reputation" , "Report bad things" , "Calumnious writing" , "Offence" .)