I was eating my cereal while watching the news, then I saw my cereal on the news, saying he was a "serial" killer.
Cereal Killer
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Explanation
Explain Bear
Alright listen up buttercup, this joke is peak comedy. It's all about that wordplay, see? "Serial" killer, like a killer of many folks, but also... SERIAL, like your breakfast! HA! I bet you didn't even notice that.