What does the cryptic crossword clue "Periodical reduced by Guardian wise guy (5)" mean?

The definition is "wise guy". The wordplay uses a charade (building blocks). MAG (synonym="short for magazine=") + US (synonym="Guardian") = MAGUS; definition: "wise guy" The answer is MAGUS.

Periodical reduced by Guardian wise guy (5)

Guardian Cryptic #29629 | 20 Across | 2025-02-27 flower

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