11-3/8x17" flyer on newsprint is designed like newspaper w/"Fawcett Distributor" title. Sheet is noted as "Vol. 3, No. 7" and has Oct. 1, 1939 date. Headline at top margin reads "Special Monthly Supplement - First Issue Of Champion Comics" and flyer has cover proof paste-on of "Champion Comics" #2, published by Fawcett in Dec. 1939. While this is #2, technically it is the first issue for this title, having formerly been "Speed Comics." Sheet's margins are brittle w/age and have some small tears/chips, none affecting text or paste-on. Top and bottom margins have some moisture staining along right sides. VG. "Champion Comics" cover proof paste-on has horizontal fold through center as sheet was folded, but still bright and clean. Fine overall. Rare and first we've seen in our 48 years.