Collas Crill has assisted Bailiwick Investments Limited and MXC Guernsey Limited with the recent acquisition of The Guernsey Press Company Limited, from Jersey company Guiton Media Limited.
The official owners, The Channel Islands Media Group Limited, is a joint venture between Bailiwick Investments Limited and MXC Guernsey Limited.
The deal which completed on 30 September, includes both the production and distribution of the local paper, as well as its digital platforms and GY4 You app.
Having previously been of off-island ownership, it is the first time in over two decades that the company will be locally owned.
Property Partner Jason Green led the Collas Crill team, working alongside Group Partner Paul Wilkes, Senior Associate Tristan Ozanne and Associate Ben Le Page.
Jason said: 'We were delighted to provide the legal support across our excellent property, commercial and employment teams to achieve this result within our clients' timeframe.'
Tristan added: 'This is wonderful news for the Guernsey public and our clients.
'We will watch the evolution of The Press with keen interest as it now moves ahead in an age of fast paced technological innovation.'