Online news outlet Alaska Dispatch announced Tuesday an agreement to purchase leading Alaska newspaper the Anchorage Daily News. The final price in the sale, set to close in May, is $34 million.

The sale covers the Anchorage Daily News, the website, and the paper’s property and operations in Anchorage.

After the purchase is completed, the paper's assets are scheduled to be sold by Alaska Dispatch to a private local buyer.

The ADN will continue to be printed. The announcement of the sale noted the Anchorage Daily News would continue operations as a tenant from its East Anchorage location.

David Morris, a spokesperson for communications provider GCI, confirms Tuesday that the company will buy the ADN building in the wake of the Dispatch's purchase. While the company hasn't disclosed the sum it will pay, or any immediate plans to alter GCI-owned CBS affiliate KTVA's presence in the building, Morris says buying the facility offers assurances to protect the company's investment.

"We're expecting that to close in the next few weeks," Morris said. "This was a way to provide some long-term stability."

The Dispatch has operated as an online-only news outlet since its founding 2008. Staff from the site published a book, "Alaska Dispatch: The Places We've Gone," a compilation of their writing and photography, in November 2012.

The Anchorage Daily News has been published as a daily newspaper since 1946, when it was initially known as the Anchorage News.

Editor's note: The Anchorage Daily News was founded in 1946, not 1916 as reported in an initial version of this story.

Channel 2's Chris Klint contributed information to this story.