Yes, it should be possible, but it will be a long way.
A cat is not as easily trained as dogs and often they don't like treats as much as dogs. So the best is to train your cat when she is relaxed but hungry.
Show her the newspaper and give her some treats. Repeat this for a few minutes for a few days until she has no fear of it anymore. The problem is that the negative experience of the thrown newspaper is there during the days of training. That contradicts your training. So it will take some more time. When your cat runs away and hides under the bed, you can call her and if she comes you can give her some treats. If she does not come to you, ignore her, don't talk to her and behave as nothing has happened. A better solution is, if possible, to lock your cat into a room where she can't hear the thrown newspaper during the time you expect the newspaper boy.
If she has no fear of the newspaper anymore, start to throw the newspaper on the floor gently and from a very low height. Ensure that the noise is so soft that your cat does not run away. Give her some treats. Repeat that, and if you recognize that she has no fear of it, try it with a little bigger height.
Try to increase the distance you throw the newspaper and the volume of the noise. There will be a time when it is easier if you have someone who helps you. The other one throws the newspaper and you have the treat. At the end, train the newspaper boy situation. Another person can play the newspaper boy and throw it to your balcony. If that is fine for her, she should not be scared anymore if the real newspaper boy is coming.