We've increased the maximum allowed upload size for documents in the document manager for the news component. You can now upload documents (to be displayed as downloadable hyperlinks on your website) to just under 2MB (1910kb to be exact).
About the OMS news content editor:
The OMS news editor (available through the Marketing & Content menu / external news) allows you to load your own news articles to your website (if hosted by us). The built-in document manager allows you to upload files (e.g. PDF's) you want to make available as a downloadable file on the article.