The issue with using "its" is essentially the lack of a logically correct antecedent. The boy, despite having assumed the worst soon found out that he got into Yale. The term "the boy" is the antecedent, to which the pronoun "he" refers to. The issue with using "it" is that the "recent spade f news reports" would have to be the antecedent...but you have to ask yourself how can a recent spate of news reports own a set of practitioners?
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