interjection used to indicate a sense of foreboding or fear of the future. Has nothing to do with actual bears. The use of the assumed antonym 'good news bears' is frowned upon.
"I just slept through my Math final, this is bad news bears."
"I went to my Math final. It was bad news bears."
"Jimmy watched in vain as the fire weaved its way towards the gasoline tank. His last thought was, 'This is bad news bears.'"