Mostly dreary news circulating in Wolverhampton? (9)

I believe the answer is:

wanderers

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'mostly dreary news circulating in wolverhampton?' is the definition.
I can't tell whether this definition defines the answer.

'mostly dreary news circulating' is the wordplay.
'mostly' means to remove the last letter.
'circulating' indicates anagramming the letters.
'dreary' with its final letter taken away is 'drear'.
'drear'+'news'='drearnews'
'drearnews' anagrammed gives 'WANDERERS'.

Can you help me to learn more?

(Another definition for wanderers that I've seen is " See 14".)

I've seen this clue in The Telegraph.

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