The San Francisco Bay Guardian has confirmed that “ongoing exclusive negotiations” are underway to sell the 45-year-old alternative newsweekly to the publishers of the San Francisco Examiner.

Co-founders and publishers Bruce Brugmann and Jean Dibble will step down from day-to-day operations as part of the deal:

There are no plans to change the editorial content or positions of the Guardian, which will remain the voice of progressive politics and alternative culture in San Francisco. Executive Editor Tim Redmond will stay on in the expanded role of executive editor and publisher.

Bruce and Jean will remain involved in the paper in a consulting role. The famous “Bruce Blog” will continue uninterrupted.

The impending sale was first reported by the East Bay Express last week.

Separately, the San Francisco Business Times reports that the Bay Guardian will sell its headquarters building for $6.5 million:

The sale price is 28 percent higher than the $4.7 million Guardian owner Bruce Brugmann paid for the building a decade ago.