GateHouse Media is buying the Austin American-Statesman from Atlanta-based Cox Enterprises, the paper reported. The $47.5 million deal is expected to close April 2.
GateHouse Media parent New Media Investment Group is one of the largest publishers of locally based print and online media in the U.S., publishing 142 daily publications and hundreds of community publications. New Media reported 2017 revenue of $1.34 billion, up 6.9 percent from 2016. The company had a net loss for 2017 of $915,000.
The sale to New York-based GateHouse includes Spanish-language weekly Ahora Si, and the Austin Community Newspapers group. Digital products such as Austin360, 512tech and Hookem.com also are included in the deal.
The sale does not include the nearly 19 acres on Lady Bird Lake where the Statesman offices are found. Members of the Cox family own that land, which is targeted for redevelopment.
The Statesman will be one of GateHouse's biggest papers, with a daily circulation of 85,000 and digital subscriptions of 16,786.
There has been no public word on how the acquisition will affect the paper's staff.
Dirks, Van Essen & Murray, a New Mexico-based media merger and acquisition firm, represented Cox Media Group in the transaction.
Nieman Lab reports that GateHouse may also be looking to buy the Palm Beach Post, which Cox put on the market last fall along with the Austin paper.
Last year GateHouse bought Morris Publishing Group for $120 million, and the company recently bought the Register-Guard in Eugene, Oregon.