Petersburg Progress-Index, weekly publication sold

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Local,Virginia

PETERSBURG, Va. (AP) — One of the largest owners of newspapers in the country has acquired The Progress-Index and the weekly publication The Colonial Voice, both based in Petersburg.

New York-based New Media Investment Group Inc. announced the acquisition of the publications in the city 25 miles south of Richmond on Tuesday.

Along with the purchase of several publications from the American Consolidated Media Southwest Group, the acquisitions were purchased for $15.3 million.

According to the newspaper, the Progress-Index (http://bit.ly/1qO13zJ) traces its origins to July 4, 1865. It was most recently purchased in 1997 by the Times-Shamrock Group of Scranton, Pennsylvania.

New Media Investment Group says the Progress-Index has a Sunday circulation of about 12,000 and daily circulation of 9,800.

With the acquisitions, New Media Investment Group owns 449 community publications across 26 states.

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