NEW YORK—In a move that will significantly increase the paper’s circulation, the New York Times is acquiring a local newspaper, sources said Thursday. “The Times will have a presence in the area, which will enable it to grow its digital presence,” Times editor-in-chief Bill Keller told reporters, adding that the newspaper will be available for purchase in the paper’s online shop and will be able to be read on the phone. “The paper will also be able to serve as a reference for our new content, which will be available for subscribers to the website.” Keller confirmed that the newspaper is expected to be available for purchase in the paper for a reasonable price.