Petersburg Progress-Index, area weekly publication sold to New Media Investment Group

Associated Press

One of the largest owners of newspapers in the country has acquired the Petersburg Progress-Index and the weekly publication The Colonial Voice.

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

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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.