At last, the deal is done. Here's the PPH's story about itself, featuring some congratulatory history as well as boosterism.
Here's a message from the new owner, Richard Connor, which mentions the significant layoffs, but doesn't talk about the almost certain plan to close the Kennebec Journal and the Morning Sentinel to focus on Portland.
The paper's biggest union is celebrating, saying it's a new beginning that they're happy to be minority owners in, with lots of trust and nice things about Connor, who is a vicious union-buster who has, for the moment, apparently decided he can get what he wants without breaking the union.
The downtown properties will be sold off to pay for the deal. Everything's on the table now.