Multiple colours used on a traditional layout. I could achieve some of this effect by hand inking the type in the press instead of inking the rollers. I haven't tried it myself yet but it looks like it should work!
Here's a sense of the general look for the more traditional option. I have in mind a more art-deco look, given the typefaces I have available, but this is generally how it would look to fit the text into the skinny tabloid format.