TEXAS — The Austin American-Statesman is being acquired by Hearst from Gannett Co., Inc.

“Hearst has a stellar reputation in the publishing industry and their values are uniquely aligned with ours,” said Michael Reed, Gannett chairman and chief executive officer. “The sale of the Austin American-Statesman from our portfolio is a strategic decision that will complement the Hearst brand while positioning Gannett and the USA TODAY Network of more than 200 local publications for future growth.”

Hearst currently owns the Houston Chronicle and San Antonio Express-News.

The price remained undisclosed following the sale.

Established in 1871, the Austin American-Statesman is an Austin-based newspaper that has received the Texas Newspaper of the Year award three times from the Texas Associated Press Managing Editors.

Hearst Newspapers has 26 daily and 52 weekly papers in the U.S.

“This acquisition complements Hearst’s set of newspapers and reinforces our commitment to delivering high-quality journalism,” said Jeff Johnson, president of Hearst Newspapers. “It aligns with our strategy to invest in thriving communities with strong potential. We look forward to welcoming the Austin American-Statesman team to Hearst.”