The most common and most likely answer to this crossword clue is the 5 plus 4 letter word QUEEN ANNE
Q
U
E
E
N
A
N
N
E
More clues leading to the result QUEEN ANNE
Buddy explains!
The straight part
We know that "That’s old news" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case that’s old news = queen anne.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.