Produced by Torrey Pines High School students, the Falconer is the best freaking newspaper in San Diego, maybe even in California. The Falconer is known for it's controversial articles, its hilarious backpage, and for having the best publications staff in the whole damn world.
Nick: Hey man, did you know the falconer is coming out this friday?
Falcowned is similar in use to the word pwned. The word is more specific to losing a match in Super Smash Bros against the character Falco but can be applied to 'owning' someone in general be it through gaming ability, wit, physical ability etc.