In Paper Ghosts, journalist Fenn Cooper is on the brink of losing his career unless he delivers a captivating story. His quest for salvation leads him to the colorful troupe of a traveling circus in Ithaca, New York, a once-famed silent film hub. There, he meets Zena, a little person fortune teller with a mysterious gift, and Holey John, a tormented Vietnam veteran. Meanwhile, Hollywood executive Marvin Brinks faces his own crisis, entangled in a century-old contract and guilty of embezzling millions.