There is no guaranteed way to remove the musty smell from old books, but there is a strategy that may be successful.
The first step is to create an enclosed chamber. This is most easily done by using two plastic bags, a large and a small. The object to be "deodorized" should be placed in the smaller bag, which is then
placed inside the larger bag. Some type of odor-absorbing material should then be placed in the bottom of the larger bag. Odor-absorbing materials to try include baking soda, charcoal briquettes (without lighter fluid), or kitty litter. Close the larger larger, and the
chamber should be left for some time. You will need to monitor periodically to see how long the materials need to be left inside the chamber.

I hope this is of some help. I don't think freezing or interleaving with
newsprint will do anything.  Fresh air and sunshine might help - fan the books (by standing on edge) so all the pages are exposed.  Please refrain from spraying with Lysol - if you are handling anything of value it would be best to steer clear of chemicals, including ozone (often used to 'deodorize' collections on a large scale; ozone is a chemical initiator and will hasten deterioration of your collections).

I have heard that this might work for smoke or cigarette smell also.

 I have also heard to use fabric softener sheets, but I think this is more of a cover than a cure. Another cure I found is to leave the book in your car in the hot sun. The heat will be intense and dry, two things mold hates.

Do be careful though because mold can travel from one book to another.