Standard sports news being shown (6)
I believe the answer is:
pennon
'standard' is the definition.
(thesaurus)
'sports news being shown' is the wordplay.
'sports' becomes 'pe' (Physical Education).
'news' becomes 'nn' (I've seen this in other clues).
'being shown' becomes 'on' ('on' can mean broadcasting on TV).
'pe'+'nn'+'on'='PENNON'
(Other definitions for pennon that I've seen before include "Pointed flag" , "Streamer on a lance" , "Narrow, swallow-tailed standard" , "Long narrow triangular flag" , "one might be all of a flutter" .)