ALABAMA – The owner of the Terre Haute Tribune Star has been sold.

The paper reports today that CNHI, LLC has been acquired by the Retirement Systems of Alabama which is the states employee pension fund, with about 350,000 members and some $40 billion in managed assets.

CNHI  is being spun off Raycom Media Inc., which is being purchased by the Atlanta-based Gray Television Inc. Raycom was owned by the retirement system.

CNHI is made up of more than 100 local newspapers and websites in 22 states.

Details of the sale have not been disclosed.

Both RSA and CNHI are headquartered in Montgomery, Alabama.

Alabama’s pension fund has other non-traditional investments including golf courses, airliners and the largest office building in New York City, 55 Water.

Gray Television, which began as a regional broadcaster, owns or operates stations and digital properties in 91 television markets nationwide with the acquisition of Raycom Media.