Very unhappy with journalist penning gag (8)

I believe the answer is:

wretched

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'very unhappy' is the definition.
'wretched' can be an answer for 'unhappy' (similar in meaning). I'm not sure about the 'very' bit.

'with journalist penning gag' is the wordplay.
'with' becomes 'w' (short for with).
'journalist' becomes 'ed' (short for editor).
'penning' is an insertion indicator.
'gag' becomes 'retch' (I've seen this before).
'w'+'ed'='wed'
'wed' going around 'retch' is 'WRETCHED'.

Can you help me to learn more?

(Other definitions for wretched that I've seen before include "Poor" , "Abject" , "Very unhappy, miserable" , "awful" , "Sorry!" .)

I've seen this clue in The Independent.

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