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PROVIDENCE, R.I. (AP) — The parent company of Gatehouse Media has announced an agreement to buy The Providence Journal and related print and digital assets from A.H. Belo Corp. for $46 million.
New York-based New Media Investment Group Inc. said Tuesday it expects to complete the deal in the third quarter.
New Media President and CEO Michael Reed said "we are very excited to welcome the paper, its employees and the community into the growing New Media family."
Jim Moroney, chairman, president and CEO of A.H. Belo, said "we are confident that New Media will continue the great journalistic tradition" of the Journal, which it has owned for 17 years. Dallas-based Belo said in December it was for sale.
The announcement said the Journal, first published in 1829, has a daily circulation of about 72,000 and 96,000 on Sunday.
GateHouse Media, Inc., is the owner of the Norwich Bulletin.