Definition
An exclamation used to introduce especially new, important, surprising, or recent developments.
Origins
Originally referred to delaying the printing of a newspaper in order to change its content to accommodate the inclusion of late-breaking news.
See Also
How People Actually Use It
What one can say when a top of the line woman walks by, as you are taken aback by ones beauty.
"Guys, is that Chanyne? Stop the presses."
Source: Urban Dictionary