Continental character setting up a male publication (5)
I believe the answer is:
gamma
'continental character' is the definition.
(letter of the Greek alphabet)
'up a male publication' is the wordplay.
'up' says the letters should be written in reverse (in down clue: letters go upwards).
'male' becomes 'm' (common abbreviation).
'publication' becomes 'mag' (abbreviation for magazine).
'a'+'m'+'mag'='ammag'
'ammag' reversed gives 'GAMMA'.
'setting' is the link.
(Other definitions for gamma that I've seen before include "Mediocre grade" , "Greek letter - type of rays" , "A bit of Greek" , "Third letter of the Greek alphabet" , "Letter after alpha, beta" .)