Newspaper mogul lacks guts, ultimately, and compassion (5)
I believe the answer is:
heart
'compassion' is the definition.
(I've seen this before)
'newspaper mogul lacks guts' is the wordplay.
'newspaper mogul' becomes 'he' (I can't justify this - if you can you should believe this answer much more).
'lacks' becomes 'dearths' (dearth is a kind of lack).
'guts' indicates the central letters (the insides of the word).
The middle of 'dearths' is 'art'.
'he'+'art'='HEART'
'ultimately and' is the link.
I am not very happy about this link. Some or all of it may belong to another bit of the clue.
Can you help me to learn more?
(Other definitions for heart that I've seen before include "Decorated (cake)" , "Centre; valour" , "Core - card" , "It's in the chest" , "It beats" .)