Media group Trinity Mirror is to snap up local newspaper publisher Southnews in a £284.6 million deal.
The £12-a-share offer will see Trinity take control of Southnews's 84 weekly paid-for and free titles in the South East.
Philip Graf, chief executive of Trinity Mirror, said: "I am delighted that we have reached agreement with the board of Southnews for a recommended offer.
"Southnews has a tremendous portfolio of high-quality newspaper titles focused on Greater London and around the M25, as well as in Essex and Kent, which will be an excellent addition to Trinity Mirror's regional and local newspaper franchises."
Trinity, the UK's largest regional and local newspaper publisher, with more than 170 titles, said the Southnews titles were "highly complementary" to its own franchises in the South East.
Among Trinity's titles are the Newcastle Evening Chronicle, the Liverpool Echo, the South London Press and the Reading Chronicle.
Trinity said the deal was an "important opportunity" to increase its exposure.
Southnews chairman Gareth Clark, said he was convinced the "correct route to ensure the continued long-term prosperity of our newspapers is by them now forming part of a larger newspaper group".
Mr Clark said Southnews had "made good and pleasing progress since its formation in 1986.
"Through a series of acquisitions and by launching new titles, Southnews has emerged as a substantial regional newspaper group."
He said recent consolidation within the industry had diminished the number of suitable opportunities previously open to the group.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article