Legendary ad man Jerry Della Femina is selling his Hamptons newspaper, The Independent, to billionaire investor Ron Perelman, a longtime East Hampton resident, The Post has learned.
Terms were not disclosed.
The deal is expected to close soon. The newspaper’s management is expected to remain.
“As the paper’s new owner, I am absolutely committed to supporting The Independent’s mission with a continued focus on covering local news and events while enhancing and expanding the paper’s focus and coverage of the vibrant local arts, culture, dining, social scene and real estate,” Perelman wrote in a letter scheduled to appear on the front page of the weekly — which will hit newsstands on April 19.
“It’s worked out great for everyone,” said Della Femina, the combative owner, who said Perelman asked him to continue writing his “Jerry’s Ink” column.
Perelman is buying the paper personally and not through his MacAndrews & Forbes investment arm, sources said.
Like Della Femina, who once owned a popular East Hampton restaurant, Perelman is also a restaurateur. In 2009, he revived the Blue Parrot in East Hampton in partnership with Jon Bon Jovi and, originally, Renee Zellweger.