Fodey.com is a nice website that lets you generate great newspaper stories and headlines. It also lets you generate several other images with custom text, all for free.
All you have to do is simply enter the text you want displayed and click on Generate.
To download your newspaper, use the link at the bottom of the generated image.
You can use the images as you wish ie. put them on your own website or blog.
Great for playing pranks or having some harmless fun!