A purchase agreement between subsidiaries of Gannett Co. Inc. and former Lt. Gov. Kaleo Moylan has been signed, according to a press release.

Moylan will take over as owner of the Pacific Daily News and all of its assets in April.

The Pacific Daily News started its local ownership in 1949, when former Gov. Joseph Flores bought the Guam News from the Navy. Flores then named the newspaper the Guam Daily News. In 1971, the newspaper was purchased by a Honolulu Group, then subsequently bought in the same year by Gannett Inc., and named the Pacific Daily News.

“I am excited to begin a new era in local leadership of the island’s leading news and media organization,” Moylan said. “My family and I grew up reading the PDN, as many in the community have. It is a privilege to be a part of the next evolution of that tradition.”

Moylan’s commitment to Guam and the region, shown through his years of community service as a senator and lieutenant governor, will continue through his ownership of the Pacific Daily News, according to the release. The media company will continue its legacy of local leadership and philanthropy in its long-standing support of many local organizations and community causes, as well as its high standards and ethical practices in journalism, according to the joint release from the PDN and Moylan.

“Guam is my home, and I view this acquisition as a way to make our island and region stronger. With all the challenges we face today, an informed community is key to moving in the right direction,” Moylan said.

Rindraty Celes Limtiaco, who has been with the PDN for 30 years and as president and publisher for the last 13 years, will continue those roles but will also take on the duties of executive editor, according to the release.

“My time with Gannett has afforded me the opportunity to grow as a leader in the media and marketing industry, for which I will always be grateful,” Limtiaco stated. “Moving forward, I can’t imagine a better owner for our company than Kaleo. He brings his passion for the community and the region to his ownership of the company, and I am excited for what’s to come – not just for PDN, but for Guam.”

The Pacific Daily News has evolved into a full media provider, servicing the community with both print and digital content, as well as a range of marketing services from traditional print advertising to all forms of digital marketing, and custom publishing solutions, according to the release.

Jay Fogarty, senior vice president of Gannett Media, said, “We thank Ri and all her staff for their important contributions to the Pacific Daily News, and are delighted that Kaleo will be overseeing the vital mission of the paper for years to come.”

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