Silver City newspaper: Stop the presses! No, wait, don't.

Silver City newspaper: Family-owned Silver City Daily Press Publishing Co. announced Friday that it would print its final edition on Monday. On Tuesday, the Silver City newspaper reopened under new ownership.

A day after the Silver City Daily Press was set to close, the newspaper Tuesday announced it will continue operations under new ownership.

An announcement on the newspaper's website Tuesday says the family-owned Silver City Daily Press Publishing Co., which Friday announced plans to print its last edition on Monday, has agreed to sell the paper to a company headed by former Daily Press General Manager Nickolas Siebel.

"Although I knew the challenges the old Daily Press faced, I was as shocked as anyone when the impending closure was announced last week," Seibel said in the posting. "I've always been a strong believer in the power of a good newspaper to shape a community, and the Daily Press is my hometown paper. I couldn't allow it to go away without at least trying to do something about it."

Seibel financed the purchase in large part through small loans from community members who shared his love for the Press.

"Most of the time I wasn't even soliciting investment – I'd be talking about the possibilities that a fresh start would bring, and people would just offer," Seibel said. "As exhausting as it's been, this weekend has been one of the most incredible times of my life. People just came together to make what seemed impossible last Friday a reality four days later.'"

The majority of the previous staff has agreed to join the new operation, which will continue publishing in print and online five days a week, he said.

The newspaper competes with a Silver City edition of the Las Cruces Sun-News.

Founded in 1896 as the weekly Silver City Independent, the paper was purchased by Col. Clyde Ely in 1934 and converted to the Silver City Daily Press in June 1934.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.