The Tampa Bay Times announced Tuesday that it is purchasing the Tampa Tribune, creating one primary paper of record for the entire Tampa Bay area.

Starting Wednesday, Tampa Tribune readers will begin receiving the Tampa Bay Times newspapers instead. Those who are used to buying the daily Tampa Tribune at their favorite newsstand will notice that the paper will be replaced with editions of the Times.

Paul Tash, Times Chairman, said the deal means theTimes is in good financial standing. Without the sale, said Tash, "the continued competition between the Times and Tribune was putting both newspapers in peril.”

The Tampa Tribune operated for 123 years as a standalone newspaper but has struggled in recent times due to increasing competition.

According to the Tampa Bay Times, after a short transition Tampa-based subscribers will see a twice-weekly section retaining the Tampa Tribune name that will focus on local news and events. The new version of the paper will eventually carry the comics and puzzles familiar to Tribune readers.

Tash said that there will be at least 100 Tribune staffers who will lose their jobs as a result of the deal. He would not disclose the purchase price.

About the Tampa Bay Times

The Tampa Bay Times is a privately owned newspaper, one of the nation’s few independent newspapers. It is owned by the Poynter Institute, a nonprofit school for journalists.

The paper began operation in 1885 as the West Hillsborough Times but was most widely known by its eventual title, the St. Petersburg Times. In 2012, the paper again changed its name this time to the Tampa Bay Times.