The atlantana newspaper has lost its publisher, after its owners sold it in a deal that sent the paper’s stock price plummeting.
The paper had been one of the few local newspapers to survive financially during the Great Recession.
But its owners recently sold the company for $1.2 million, which could potentially result in the loss, and its shares fell to $2.55 on Thursday morning.
Its owner, the New York Times Co., is currently seeking to sell the company, according to a press release.
It also said it would be making changes to the newspaper’s editorial staff, and “immediately suspend any editorial discussions.”
The paper has been sold for $2 million.
It was previously known as the Atlanta Journal Constitution.
The deal was announced Wednesday, according with a press statement from the New Times Co. to CNBC.
The deal is subject to approval by a judge.