It seems that the word itself doesn't mean news or newspapers, but many newspapers use it in their names. Is there a historic reason?
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The name originally comes from the British newspaper The Daily Universal Register founded in 1785, which changed it names to The Times in 1788. Since then it has lent its name to papers all over the world.
The original meaning of time is to happen, so the times means that what has happened, which is a fitting name for a newspaper.
When in doubt about English, I like to go back to my Dutch roots.
The Dutch word 'courant' can mean either newspaper or currency (money), and it derives from the French 'courant', which, when used as an adjective, means current or present (time). Another English term that derives directly from the French is 'au courant', which means, literally, up to date, informed on the latest developments etc.
This leads back to the idea of a newspaper reporting what is happening at the current time.
Along with newspapers that use the word 'Times' in their name, you will also find many that use 'Courant'.
Simple: Currency, and location in history, as in "these are the Times that try mens' souls." You want yesterday's news?
There are also plenty of Heralds, Bugles, and even some "Cryers" (as in "Town-"), for the obvious reason that they are "announcing" the latest doings.