The line "Old news, old news to you then" is repeated at the end of each verse, and this repetition makes the line itself like "old news." The melody to which these "old news"s are sung is something like:
(I guessed on the key.)
In all but the last measure, the rhythm consists of two eighth notes and one half note, and there are only two pitches, so even musically, this phrase is repetitive.
It does change, however, after the line "Fell for the ruse with you then." It's as if the music itself was tricked, and it becomes something like: