“I’ve got good news and bad news.” “Oh yeah?” “Yeah, which do you want first?”
Always start with the bad news and save the best for last. It will always be more difficult for people to get over the sour news (most people dwell on bad stuff longer than good stuff), so the best thing you can do is end with the good news and hope for a softer blow overall. By ending with the good news, you stand a chance to inspire solutions, optimism or even an antidote to the bad news.