I haven't quite figured out the old newspaper pricing. I have a bunch of them, and some should be pretty good. I've seen a pricelist from an ephemera dealer with newspapers from the 1800's to more modern, and some are priced in that sort of range $300- 500 or more. But others that seem better to me are only about $30. I checked Titanic ones because I have a couple, and newspaper dealers want real money for them depending on the paper, edition, and how big the headline is. But on Ebay they don't bring much at all - maybe 10% of what the specialist dealers want.
Titanic
http://www.nytstore.com/ProdDetail.aspx?prodId=18978
Gangsters
http://www.nytstore.com/ProdDetail.aspx?prodId=27533
So yes, some of them can be worth something. But the condition and subject really matters, just like cards.
The rotogravure sections usually sell well, especially if Ruth is pictured.