The Oklahoman has been sold to GateHouse Media

The Oklahoman is being sold to GateHouse Media.

Publisher Chris Reen announced the sale to staff Thursday. Terms have not been disclosed. The sale is expected to close Monday.

Reen says some layoffs would happen Thursday to help stabilize financial operations for Oklahoma City's only daily newspaper. Reen says he will be leaving his position as publisher.

The Anschutz Corp., owned by Denver businessman Philip Anschutz, bought The Oklahoman in 2011.

GateHouse CEO Kirk Davis says he is enthusiastic about the purchase and that Gatehouse also owns Oklahoma City business publication The Journal Record.

New York-based GateHouse is one of the largest publishing companies in the U.S. with 145 newspapers, including The Austin American-Statesman and The Florida Times-Union.

The newspaper industry has struggled amid declining advertising revenue and subscriptions.