Dave Danforth, who founded the Aspen (Colo.) Daily News almost four decades ago, has sold the paper to a group of local investors led by its acting publisher David Cook.
Terms of the transaction were not disclosed. Dirks, Van Essen & Murray, a media merger and acquisition firm based in Santa Fe, New Mexico, advised David Danforth in the transaction.
The Daily News was the resort town's only daily newspaper when it launched in 1978, and quickly grew a reputation for aggressive reporting. The Aspen Times, which launched as a daily in 1881 and converted to a weekly in the 1920s, became a daily again in 1988, making Aspen just one of nine cities with competing daily newspapers.
Lead owner David Cook also owns TV station 82 in Aspen. The other investors in the new ownership group include three local real estate brokers. All existing staff will maintain their jobs, the group said.