In short:
The Circular Head Chronicle, based in Smithton in far north-west Tasmania, says it will print its last edition on Wednesday.
The weekly community paper has been in circulation since 1906.
What's next?
There's still a chance the paper could be saved, if a new owner can be found.
After 118 years reporting local news to residents from Marrawah to Rocky Cape in Tasmania's far north-west, the Circular Head Chronicle's presses will fall silent.
The weekly newspaper based in Smithton has announced it will be shutting down, with the final edition to be published on Wednesday.
The newspaper's manager, Janelle McGowan, said the paper was closing because it could no longer afford to stay in business.
"We rely on advertising and, unfortunately, businesses just don't have the budgets anymore for it," Ms McGowan told ABC Radio Afternoons.
The Circular Head Chronicle had a tradition of featuring Santa in a local scene for its Christmas editions. (Supplied: Facebook/Circular Head Chronicle)
Alan Jennison, the owner and editor of another of Tasmania's community newspaper, the Western Echo on the state's West Coast, said advertising revenue was essential for small papers.
"Your advertising revenue has to pay for everything … your employees, staff, writers, photographers, anything at all, your print bill," Mr Jennison said.
"I know that Circular Head have their own press, but there are still a lot of costs associated with that, and without that advertising it's just not viable."
Circular Head Mayor Gerard Blizzard said it was "very disappointing" to hear of the Chronicle's closure.
Cr Blizzard said the paper had been a mainstay of the community for more than a century and provided residents with important community news.
He said the Chronicle was particularly important for readers who relied on local media rather than social media to find out "what's going on in the community".
"Unless it's a major thing, the [Burnie-based] Advocate … [is] not going to pick up many of our little community events."
The Circular Head Chronicle press in 1973. (ABC News)
When asked if there was the potential for a new owner to buy the business and continue the Circular Head Chronicle, Ms McGowan said, "that's not really for me to say".
"But I guess if the right person wanted to come in and have a crack, then that would be something for them to discuss with our owners."
While the chances of the newspaper being thrown a lifeline are not yet clear, Cr Blizzard said the council would "certainly welcome someone to show interest" and keep the newspaper alive.
The Circular Head Chronicle office in Smithton will close on November 1. (Supplied: Google Street View)
'A very sad day for local publishing'
Buying a newspaper to save it from closure is exactly what Rachel Williams did when the North-Eastern Advertiser, based in Scottsdale, was facing closure.
Like the Circular Head Chronicle, the North-Eastern Advertiser has served its community for more than a century.
"It's extremely sad for that [Circular Head] community to lose a newspaper that's been a huge part of the fabric of that community over the decades," Ms Williams said.
Rachel Williams says it's "extremely sad" for the Circular Head community to lose its newspaper. (Supplied: Facebook/North-Eastern Advertiser)
"I understand there's a lot of people who are, quite rightly, very sad and perhaps nostalgic that they're not going to have their weekly copy of their local paper come to their doors anymore."
Ms Williams said the decision to close the newspaper would have been challenging to make.
"I'm sure a lot of thought would have gone into it, but it's a very sad day for local publishing," she said.
"I hope that someone else can see the value in local news, because I believe in the future of local news and publishing.
"I've seen a significant increase in my sales and revenue since I purchased [the North-Eastern Advertiser], because I think people believe that I have the best interest of our community at heart in trying to keep that local news in the spotlight."
Ms Williams said readers would not purchase a community newspaper "if they can tell that it's not accurate and informative and relevant" to their community.
She said independence was "vital".
A front page of the Circular Head Chronicle from August 27, 2015 (Supplied: Facebook/Circular Head Chronicle)
'Too early to speculate' on potential buyer
Local company Font Publishing — an arm of Font Public Relations — has acquired eight newspapers, including Tasmanian Country, the Derwent Valley Gazette, and the King Island Courier.
Font managing partner Brad Stansfield said some of the papers were acquired "when they were either facing imminent closure, were already closed, or, in one case, had been closed for a number of years".
Mr Stansfield said it was "probably too early to speculate" about whether Font Publishing would consider adding the Circular Head Chronicle to its portfolio.
The Circular Head Chronicle published a commemorative edition to mark 100 years of publishing in July 2006. (ABC News: Maren Preuss)
Concerns have previously been raised about a public relations and lobbying firm owning and publishing local newspapers.
Mr Stansfield said there was no conflict.
"Contrary to popular myth, Font Publishing is a separate company and isn't in any way associated with Font Public Relations," he said.
Font Publishing is described as "our publishing arm" on Font PR's website, and two-thirds of the companies' owners are the same.
Mr Stansfield said all of Font Publishing's newspapers were "independently edited by respected, independent journalists right around the state".
"All of our editors, bar one, are female, for the record, but any suggestion that those editors don't control their own newspapers, and what they may or may not put in them, I think, is unfair to those editors and untrue."
The Circular Head Chronicle said it would close its office in Smithton on November 1.
