Providence Journal sold for $46 million
New Media Investment Group, the parent company of GateHouse Media, said Tuesday it has reached an agreement to buy The Providence Journal for $46 million.
The Journal, published since 1829, is owned by A.H. Belo Corp. of Dallas. The sale is expected to be completed by Sept. 30.
According to the Journal, the sale includes the production facility on Kinsley Avenue, but not the Fountain Street headquarters or downtown parking lots.
The newspaper said New Media will lease the headquarters and lots for one year.
GateHouse Media owns dozens of other daily and weekly newspapers in Southern New England, including The Herald News of Fall River, The Standard-Times of New Bedford, Taunton Daily Gazette, and Cape Cod Times..
The Providence Journal has a daily circulation of 72,000 and Sunday circulation of 96,000, according to New Media.