41 North Media is buying the Inquirer and Mirror (Nantucket, Massachusetts) from Gannett, the paper reported.
The sale is expected to close on Nov. 1.
The sale returns the paper to local ownership.
“This is great news,” editor and publisher Marianne Stanton said, the paper reported. “Although our corporate parents have largely been ‘hands-off’ with our operations, I’ve always thought that the newspaper would be in the best long-term position with local ownership.”