New Media Investment Group has reached an agreement to acquire substantially all the assets of Stephens Media for $102.5 million.

New Media Investment Group has reached an agreement to acquire substantially all the assets of Stephens Media for $102.5 million.

The potential acquisition includes The Review Journal in Las Vegas, as well as seven other daily newspapers and 65 weekly newspapers in Arkansas, Iowa, Nevada, North Carolina, Oklahoma, Tennessee and Texas. In all, those newspapers have a combined circulation of 221,000 daily and 244,000 on Sunday. In Arkansas, the acquisition includes over 20 publications including the Pine Bluff Commercial.

In a little less than a year, New Media has acquired $457 million in local newspaper assets.

New Media is the owner of GateHouse Media, LLC, one of the largest publishers of locally based print and online media in the United States. GateHouse Media is the Helena World's parent company.