The odd and doubtful construction probably accounts for the absurd folk-etymology (attested by 1640 but originally, and in 18c. usually, in jest-books) that claims it to be an abbreviation of north east south west, as though “information from all quarters of the compass.”
My English teacher was dead serious when she told me that too
To be fair to her, its an old myth
https://www.etymonline.com/word/news