Their core audience is local. It is a college town so of course there is a dedicated out of town / state readership. However, it's not a tourism market where mine is 70% non local / 30% local website traffic. I would guess they are the opposite. Regardless, monetizing without a paywall is very possible, just a different strategy.
Edit- By local I mean the immediate region (GF, Grafton, TRF, ETC) because they are a regional newspaper.