'try to take the edge off bad news'?

Hi,

Please have a look at this:



[About the PR and the Investor Relations leaders] During normal times you doubtless did what almost every one of your counterparts in other companies did: get out good news and try to take the edge off bad news, perhaps even hide it.

Does the bold part mean 'try to make bad news seem less bad'?

Many thanks,

Nessie.