The purchase by Papyrus has triggered concern among journalists about possible job losses for the 170 employees.
The new owner, Dominique Auroy, has left it open about what he will be doing with the Nouvelles de Tahiti and La Depeche, saying the options include turning them into weekly, monthly or online only publications.
Journalists have also said they expect a change in the editorial line, with the group becoming favourable to the conservative government of Gaston Flosse.
The Papyrus group also acquired magazines, radio stations and a publicity company.
Auroy already owned two internet pay-TV stations for viewers in French overseas territories and Africa.
He also owns a vineyard on the atoll of Rangiroa.
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Pacific Media Watch
