Business

Palm Beach Post, Daily News sold to fast-growning GateHouse

One of the nation’s busiest acquirers of newspapers and online media has agreed to buy The Palm Beach Post and Palm Beach Daily News in a deal announced at $49.25 million.

Executives at New York-based New Media Investment Group Inc. said the sister papers will join a growing GateHouse Media stable of more than 140 daily newspapers. That represents more than 1 in 10 in the country.

The papers and associated websites have been owned since 1969 by Atlanta-based Cox Enterprises. The sale is expected to be completed by May.

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