The newspapers have been owned since 1969 by Atlanta-based Cox Enterprises.
GateHouse Media owns more than 140 daily newspapers and has been on a buying spree. The company recently bought the Cox-owned Austin American-Statesman in Texas for $47.5 million. Cox put the Palm Beach and Austin papers on the market last fall.
“It was very important for us to find a buyer that would build on our longstanding commitment to investigative journalism, our community and our advertisers,’’ Publisher Tim Burke said. “GateHouse is committed to continuing this tradition, while investing in our digital products and innovation.”
The Palm Beach Post celebrated its centennial in 2016 while the Daily News, also known as the Shiny Sheet, has been published for 120 years.
Cox continues to own and operate newspapers in Atlanta and Ohio, where it also owns television stations.
The deal is expected to be completed by May.
According to The Post, Cox will keep ownership of The Palm Beach Post building at the corner of Belvedere Road and Dixie Highway.
The Palm Beach Post is a news partner of WPTV.
This story will be updated as new information becomes available.