Businessman Archie Nahigian purchased the Virgin Islands Daily News and its affiliated publications, websites and business operations, effective Tuesday.
Terms of the deal were not disclosed.
Nahigian, who bought the paper from Times-Shamrock Communications of Scranton, Pa., is originally from California, and recently relocated to St. Thomas from Lanai, Hawaii. He is a graduate of Georgetown University and Georgetown Law School and spent more than a dozen years as an aide on Capitol Hill in Washington, D.C.
Since entering the private sector, he has worked as a director, executive and consultant to privately held companies in California, New Jersey, Maryland and Hawaii.
“I am proud to call St. Thomas my new home and look forward to working with our readers and advertisers to make the Daily News an even more effective voice and active participant in the life of our community,” he said in a press release issued Wednesday morning by Daily News publisher Jason Robbins.
Nahigian lauded the tradition of excellence at the newspaper.
“The Daily News has been a vital institution in the lives of Virgin Islanders since its founding on Aug. 1, 1930. I consider it a great privilege to be entrusted with this responsibility, and I hope to prove a worthy steward of that legacy,” he said.
Robbins said the ownership transition is running smoothly and that current managers, employment terms and operating procedures are remaining in place.
The Daily News is produced by Daily News Publishing Co., Inc., which also publishes Island Trader, Best of V.I., Crucian Trader, Love City Trader, Virgin Islands How-To Guide and dozens of other print and online titles.
The sale of The Daily News closed Tuesday and was brokered by Cribb, Greene & Associates, a leading merger and acquisition firm in the U.S. newspaper industry.