Pros
Love working as in house for a newspaper! I got to deal with copyright, employment, immigration, advertising and got to go to parties from ad agencies or large ad networks, which is always fun and edgy. I got to be exposed to a lot of fun stuff that my friends in law firms don't get to.
Great work life balance. You can go home usually at 5 or 6pm and not often have to work on weekends.
Also got to learn the business aspect of a business, which I consider beneficial to start my own business in law later.
Cons
A lot of times you have to learn by yourself. There is no mentor system here in legal department, so you pretty much have to figure things out by yourself.
You also don't get to learn things deeply because there is this broad range of areas you have to work on. So good thing is you get to learn everything but on the flip side, you don't get to specialize in one area of law either.