CAMBRIDGE (CBS) – Out of Town News, the landmark in Harvard Square, may soon be out of luck.

Before the Internet, Out of Town News was about the only place to read the newspapers of the world. Now after about 60 years, the newsstand may have to move. The city of Cambridge wants to renovate the plaza, and that may leave no room for the newsstand.

“This is the mini Times Square for Cambridge. It’s a very, very important place and I think it should be a public space,” says Cambridge City Manager Richard Rossi.

And that’s the crux of the matter. The newsstand sits on Cambridge city land in a kiosk owned by the city, and the city wants the plaza open to everyone, so a commercial operation won’t fit. “The city’s goal is pretty clear; we want to make that a more public space,” Rossi says.

A multi-million dollar renovation of the plaza would mean Out of Town would lose its home. “It’s been here so long, I mean it would be a shame to just be forced out of business. It’s a landmark,” says one Cambridge resident.

For generations of students, tourists and residents the newsstand has been a place to grab a paper or magazine, something to drink and a souvenir. “Oh, I would be devastated. I’d be really upset. I love this place,” says a frequent newsstand shopper.

Whatever happens, the kiosk isn’t going anywhere because it’s on the National Register of Historic Places. “The building won’t be demolished. It won’t be removed,” Rossi says.

Instead it would be re-purposed, but it’s too early to know what that purpose would be. “One idea we’ve looked at, could there be a big screen there? Maybe you watch the Olympics or the World Series or the presidential inauguration,” says City Manager Rossi.

But with all the history, Out of Town would be missed. “I think it’s an institution. I hope they don’t get rid of it. It fits right in,” says a woman who works in the square.

The lease for the newsstand runs to the middle of next year, and then month to month. There’s still a lot of meetings, discussions and decisions to be made before we know what will happen, and whether Out of Town News will move somewhere else.