About fifteen years ago, I hear of this "formulation" from a bookbinder named Ma
 rgaret Leaky, who at that time was attributing it to Peter Waters of LC (Sorry,
  Peter if it's not so.) The concept may be sound but the ingredients are questi
 onable.  I'd substitute magnesium carbonate for milk-of-magnesia hence avoiding
  additives which your newspaper clippings couldn't use or want in the first pla
 ce.
 
While this deacidification step should give greater permanence to newprint, harb
 or no illusions about newsprint's color stability if you intend to frame the cl
 ippings.
 
J. Druzik, The Getty Conservation Institute