Aberdeen's major newspaper operation is being taken over by its Dundee-based rival in a £132m deal.
The job implications of the deal are not yet clear
The Aberdeen Journals business, which includes The Press and Journal and Evening Express newspapers, is to be bought by DC Thomson.
DC Thomson's titles include The Courier and Sunday Post newspapers.
Aberdeen Journals is being sold by Daily Mail and General Trust (DMGT) but it is not yet clear what the job implications of the deal are.
The Press and Journal - which dates back to 1747 - is a regionally editionalised daily newspaper mainly serving the north and north east of Scotland.
DMGT said it was restructuring its regional newspapers arm after agreeing to sell its titles in Aberdeen.
The news came as a surprise to many as DMGT earlier put all of its regional papers on the market but then opted to keep the business as all the offers it received were too low.
Management at The Press and Journal welcomed the deal
Andrew Thomson, chairman of the privately-owned Dundee company, said: "We are delighted to be acquiring Aberdeen Journals and its group of highly respected newspapers covering the north and north east of Scotland.
"The Courier and Advertiser and The Press and Journal, the Evening Telegraph and the Evening Express all have a long and enviable history of campaigning and speaking for the communities in their areas and that will continue.
"The excellent staff in both Dundee and Aberdeen and elsewhere have been central to the success of these publications.
"The content and editorial policy of The Press and Journal and the Evening Express will continue to be set by the people who know its area best, and they are based in Aberdeen."
Alan Scott, managing director of Aberdeen Journals, said: "The sale ensures the independence of our publications.
"We are delighted to be part of the DC Thomson organisation - it has a long and proud tradition in the publishing industry and we could not be in better hands."
Scottish National Party north east MSP Richard Lochhead said: "I welcome the fact that it is a Scottish company taking over the control of one of the great journalistic institutions of Scotland.
"DC Thomson have shown in their other titles a commitment to local news focus, and to campaigning on local issues, as have Aberdeen Journals.
"I hope that this ethos will be continued, to the benefit of the north east."