The Gaithersburg Gazette Inc., publisher of the weekly Montgomery County newspaper, has acquired the assets of another county weekly, the Courier Newspapers of Damascus. The Gazette bought the Courier for an undisclosed sum from the Providence (R.I.) Journal, which had owned the 18-year-old paper for two years.

Davis Lee Kennedy, owner and publisher of the Gazette, said two of the Courier's three editions would "continue indefinitely." He said the Courier would continue to be delivered in both the Olney and the Damascus and Mount Airy areas. In the Gaithersburg, Germantown, and Montgomery Village area, the Courier would be replaced by the Gaithersburg Gazette as of next week.

Last Wednesday's editions of the Courier carried an announcement that said the paper "will cease operations after fulfilling its obligations to employes and creditors." The sale was effective on Thursday.

In the announcement, Courier general manager Harry Klein said the paper had been sold because it had not been profitable and "the sale will insure that many Courier employes will be able to keep their jobs."

Of the approximately 40 Courier employes in the Damascus office, Kennedy said the Gazette will keep the entire production department and has offered jobs to the circulation and advertising departments. The Courier's editor, Joan Candy, has accepted an offer to stay. Some of the news staff will remain. Kennedy also said he hopes to enlarge the two Courier editions and maintain a Damascus office