The Princeton Packet, in a transaction expected to close on April 1, will become part of Pennsylvania-based Broad Street Media, which will own and operate the newspapers and digital websites of the Packet Media Group.

James B. Kilgore, who has lived in Princeton for most of his life, will remain publisher of the new company’s titles and will retain a seat on the board. Mr. Kilgore joined Packet Media Group in 1976 and has served as president and publisher since 1980. Packet Media’s general manager and marketing director Michele Nesbihal will also keep her current position.

The new company will be located on Witherspoon Street in the current Packet Media Group building.

Broad Street Media CEO Darwin Oordt will oversee the day-to-day operations of the new company, as well as its strategic planning.

Packet Media currently publishes five community newspapers, having shut down seven of its 12 publications last year and reduced Princeton Packet publication from twice a week to once a week.

Broad Street Media was formed in 2010 and currently publishes community newspapers and specialty products, with a combined circulation of more than 500,000.

The Princeton Packet has been published as The Princeton Packet since 1916 and, before that, under several different names since 1786. Packet Media Group was founded when James Kilgore’s father, Barney Kilgore, bought the paper in 1955.