Wacky News is a magazine/newspaper column.
The only article seen to date is about a monster photo contest, showing a picture of last month's winner and stating that the grand prize is $1,000. The other side also has an advertisement for a giant hamster ball for $500, which Mabel wants. On the back, the magazine also has an advertisement for Gideon's Tent of Telepathy, and says "Only in Gravity Falls." Before Dipper shows Mabel the article about the photo contest, there is a page with UFO sightings. There are a lot of advertisements here and there on the magazine's pages.
The magazine cover depicts a man with a beard so long it has turned into a man with the text "Beard Grows Man" written across it.