Notice in-the photo collage above that all the newspapers, regardless of Truman’s pose, look the same and that there appears an unnatural wrinkle below which everything is blurred. (Ignore Obama.)
I think this might be explained … Thomas Dewey won the election. That might matter, might not. It was understood that the election would be stolen for Truman as people slept, so that a story was invented: Newspaper people were said to have gone to bed after putting their morning papers to press, only to be shocked in the morning to learn that overnight vote counting favored Truman.
An alternative: Truman, in a studio (ergo the black background), was given a prop, perhaps a canvas bag, and told to hold it up smiling. Images of a newspaper were then overlaid in a dark room. Because they could not know what other stories might be prominent, they blurred the lower half. The result is meant to look like Truman is on a podium in front of a crowd in celebration. He is acting. (Notice how even in different Truman poses, the newspaper looks the same.)
Dewey defeated Truman.