We examine whether the financial press plays an important role in the correction of the accruals anomaly. Using 83,016 Wall Street Journal news articles published during 1993–2006, we find that a significant fraction of abnormal returns associated with the accruals trading strategy is concentrated on news days. The clustering of returns on news announcements is consistent with the financial press revealing information valuable for the correction of accruals mispricing. Further, we find that earnings-related news is more influential in the correction process than non-earnings-related news. Collectively, the results suggest that the financial press provides useful information to capital market participants.