Terms of the deal, brokered by W.B. Grimes & Co., were not disclosed.
The Canyon News is a bi-weekly paper in Randall County with a circulation of 3,074. The Muleshoe Journal is a 1,640-circ weekly serving Bailey County.
"The Canyon News and Muleshoe Journal are well-respected and vital newspapers and Hearst is looking forward to leading these strong publications to continued success in the years ahead," George Irish, president of Hearst Newspapers, said in a statement.
Both newspapers will maintain their staffing and will report to Sandra Aven, publisher of Hearst's Plainview Daily Herald.
Jim Moser, managing partner of Lambai and Palo Duro, said in a statement: "I'm proud to pass the ownership of these fine newspapers to Hearst Corp. They are a quality organization and these two communities can expect great things under their leadership."
By: E&P Staff Hearst Newspapers acquired two papers in Texas, The Canyon News and The Muleshoe Journal, from Lambai Publishing and Palo Duro Publications respectively.