This can be accomplished by logging into your administrator panel (back-end). Goto module manager and unpublish the latest news module. Then goto your static content that you wish to place in advert1. Copy all content in the white-box (editor section) then go back to module manager once again. Create new custom module by clicking new. In the editor box (white box) hit ctrl-v on your keyboard to paste. Then publish the new module to advert1 and it should appear as desired.
Good Luck!
wage
"Everyone has to get knocked-down every once-in-a-while, otherwise you'll never learn how to get-back-up!
" A quote attributed to my Grandpa Wagers
Yeah, finding out about creating custom modules really helped me have more control over content layout with Joomla. It was the missing key and I read about it right here on these forums.