It's a long story (4)

I think it could be either:

yarn

saga

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'long story' is the definition.

I don't understand how the remainder of the clue works.

(Other definitions for yarn that I've seen before include "Story, and thread or wool, say" , "Long involved story" , "Rope" , "Rambling story" , "Spun thread; long story" .)

I've seen this clue in The Washington Post, the USA Today, the Evening Standard, the Newsday, the Universal, The Guardian, The Wall Street Journal and The New York Times.

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