Weekly community newspaper The Arran Voice is the latest title to fall victim to the recession.
The Scottish island title was set up two years ago in competition with the Arran Banner.
The paper said its advertising position had been improving in recent months – but not enough to save it.
In its last editorial the paper said: “The Arran Voice has in every way except financially been a success. It has proved itself to be useful and enjoyable, and increasing numbers of readers have come to appreciate its robust freedom of comment and its readiness to fight for causes it upholds.
“The sense of connection with our readers remains intense, and our policy of throwing the ownership of The Arran Voice to the community will stand as a continuing structure. Voice for Arran, the company limited by guarantee set up by local people, remains alive and filled with potential. It is time now for some creative thinking about the future, and any opinions and suggestions short of those that are flatly abusive will be very welcome.”