The most common and most likely answer to this crossword clue is the 4 plus 3 plus 3 plus 4 letter word READ ‘EM AND WEEP
I've seen this crossword clue in The Guardian
R
E
A
D
â
€
˜
E
M
A
N
D
W
E
E
P
Buddy explains!
The straight part
We know that "Here’s the bad news!/Here’s the bad news!" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case here’s the bad news!/here’s the bad news! = read ‘em and weep.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.