Academic digesting newspaper, an intimidating woman (6)
I believe the answer is:
dragon
'an intimidating woman' is the definition.
(dragon can mean a formidable woman)
'academic digesting newspaper' is the wordplay.
'academic' becomes 'don' (type of academic - especially at Oxbridge).
'digesting' indicates putting letters inside (inserted letters are eaten or ingested).
'newspaper' becomes 'rag' (informal term for a newspaper).
'don' placed around 'rag' is 'DRAGON'.
(Other definitions for dragon that I've seen before include "Mythological fire-breathing creature" , "battleaxe" , "Mythical fire-breathing creature" , "eg Puff, Fafner" , "St George killed this flying monster" .)