Very brilliant boss of newspaper, although it's folding (4,3)
I believe the answer is:
sofa bed
'it's folding' is the definition.
(sofa beds are foldable)
'very brilliant boss of newspaper' is the wordplay.
'very' becomes 'so' (both can mean 'extremely').
'brilliant' becomes 'fab' (short for fabulous).
'boss of newspaper' becomes 'ed' (editor).
'so'+'fab'+'ed'='SOFA BED'
'although' acts as a link.
(Other definitions for sofa bed that I've seen before include "Seat that converts for sleeping on" , "One may be lying here!" , "guest accommodation?" , "Convertible furniture" , "dual-purpose item of furniture" .)