newssheet vs news report

newssheet and news report both are nouns.

Word	Noun	Adjective	Verb	Adverb
newssheet	Yes	No	No	No
news report	Yes	No	No	No

As nouns, news report is a hypernym of newssheet; that is, news report is a word with a broader meaning than newssheet:

newssheet: report or open letter giving informal or confidential news of interest to a special group
news report: a short account of the news

Other hypernyms of newssheet include account, report, story, write up.

newssheet (noun)	news report (noun)
report or open letter giving informal or confidential news of interest to a special group	a short account of the news