Penny and Victor going into drama college daily (6)
I believe the answer is:
pravda
'daily' is the definition.
(Russian daily newspaper)
'penny and victor going into drama college' is the wordplay.
'penny' becomes 'p' (short for pence).
'and' says to put letters next to each other.
'victor' becomes 'V' (phonetic alphabet: alpha, bravo, charlie etc.).
'going into' is an insertion indicator.
'drama college' becomes 'RADA' (Royal Academy of Dramatic Art).
'v' inserted inside 'rada' is 'ravda'.
'p'+'ravda'='PRAVDA'
(Other definitions for pravda that I've seen before include "Russian newspaper title meaning "truth"" , "Moscow newspaper" , "Russian daily newspaper ('Truth')" , "red-top newspaper?" , "Communist newspaper" .)