It's old news (7)
I believe the answer is:
tidings
'news' is the definition.
(I know that news can be written as tidings)
I don't understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for tidings that I've seen before include "Information about recent events" , "News (arch.)" , "News (obs.)" , "News, information" , "News, reports" .)