Tindle Newspapers Ltd is set to purchase Isle of Man Newspapers in a deal worth £4.25 million.
Johnston Press's decision to sell the three newspaper titles and website is due to be finalised at the end of the month - staff on the Island were informed on Monday.
Isle of Man Newspapers says it will be "business as usual" with no major changes planned.
Gales put two ferry sailings at risk tonight
Should the Island throw a birthday party for Barry Gibb?
Warning issued over icy roads
High ground could see 4 inches of snow on Saturday night
Mountain Road unlikely to open before Monday
Yellow warning for freezing temperatures tonight
School bangers night called off
AK47 and Uzi handed in to police