The Baton Rouge Advocate reported Saturday that New Orleans businessman John Georges has signed a letter of intent to purchase that newspaper.
The paper quoted its current publisher, David Manship, as saying the deal is expected to close by June 1st.
Georges would not comment, citing a confidentiality agreement, the newspaper reported.
The terms were not disclosed.
Georges expressed his interest in buying The Advocate earlier this year and expected an offer to be made before the summer.
The Advocate began printing a New Orleans edition in October when The Times-Picayune announced it was cutting back to three days of print papers a week.