Almost back, holding it up as part of the Guardian, say (7)
I believe the answer is:
section
'part of the guardian say' is the definition.
(newspapers have different sections)
I don't understand the rest of the clue.
(Other definitions for section that I've seen before include "Segment" , "surgical procedure" , "Notices (anag)" , "Subdivision of a newspaper" , "Department, division" .)