MediaNews Group has bought a group of 11 community papers owned by Red Wing Publishing, the Star Tribune reported.
MediaNews is owned by hedge fund Alden Global Capital.
Terms of the deal weren’t made public.
In the sale, MNG bought the assets of a number of suburban Twin Cities papers as well as publications in Litchfield, Hutchinson and International Falls, says the Star Tribune.
Family-owned Red Wing Publishing’s Arlin Albrecht told the Star Tribune that following the sale, “there are certainly going to be changes that we will be melancholy about.” But he said the “best prospect for sustainability for the staff is a large organization with financial wherewithal.”
Red Wing Publishing is the parent of Big Fish Works, which runs three news groups.
The acquisition also includes a digital marketing agency and two commercial printing plants.