It does not derive from the four cardinal directions.
The word news can be
traced back to late Middle English around the 14th century as a
plural for the adjective “new” or “new thing”. This is a
somewhat rare instance of an English adjective becoming a noun
when made plural. Making this leap from “new” to “news” in
English is thought to have been influenced by the Old French
“nouveau”, meaning “new”.
Before the 14th century, instead of using the word “news”, English speakers typically used the word “tidings”, more or less meaning the “announcement of an event”. This Middle English version started before the 11th century and stems from the Old English term “tidung” meaning “Event, occurrence, or a piece of news.”