I think what Mr A said is true. I'll add more details. 신문로 is indeed a compound word since 로(road) is a common suffix for street names (종로, 충무로, etc). So what happens is when people say it they pronounce 로 as if starting a new word, with stress and overriding the normal ㄴ-ㄹ consonant assimilation rule (자음동화) which would have made it [신물로]. We effectively say 신문 + 로, but there is another Korean pronunciation peculiarity called 두음법칙 (first sound rules), which makes ㄹ in the beginning of a word change to ㄴ. This is because Koreans traditionally can't pronounce ㄹ at the start position. For example, the old Korean name for "Russia" was 노서아 with ㄴ. This rule has changed in the past century and a half as many foreign words beginning with ㄹ came into the language, but the 두음법칙 phenomenon still carries on in many parts of the language. That's the reason why 신문로 becomes [신문노] - first owing to its compound nature, and secondly because of 두음법칙 on 로. Simple non-compound words follow the normal ㄴ-ㄹ to ㄹ-ㄹ assimilation rule, like 신선로, which is pronounced [신설로]. However, the official language standard doesn't explain it this way but merely states that such words are exceptions (see http://krdic.naver.com/rescript_detail.nhn?seq=7200). So take that into consideration. In any case, this characteristic of compound word pronunciation applies in many other cases too, so it's worthwhile to remember that we pronounce words and phrases based on rough units of ideas, so that compound words are often pronounced like multiple words. Korean pronunciation can get complex, so it's worthwhile to spend time to get the basics right, since most of these complicated rules are all tied to the basic underlying principles.

Somepeople say 한류 and somepeople say 할류. 난로 or 날로. In my opinion pronuncing ㄴas ㄴand ㄹas ㄹ is the best way. Of course it is more comfortable for listners to recognize

the example with "hallyu" is in one word: 한류. We also see it in any word with a 'ㄴ' 받침. 신문로, on the other hand, is TWO words: 신문 - 로. When the rule is applied to a "compound word", it works the opposite way.