A paper holder assembly has an axle coaxially positionable to extend axially outwardly from axially opposite bases of a platen drum providing a circumferential outer surface disposed between the opposite bases, the axle has circumferential grooves terminated by corresponding flanges. A pair of brackets each having three arms joined together in a unitary monolithic structure with first and second arms defining a centrally disposed recess having spaced-apart curved sides are positioned to ride along corresponding ones of the circumferential grooves. A pivot pivotally connects the second arms to the opposite bases of the platen drum, and a paper holder extending from the distal portion of the third arm holds edges of sheets of paper against the circumferential outer surface projecting axially inwardly from distal ends of the third arms across the circumferential outer surface. Springs bias the bracket toward a first orientation relative to the pivot. Rotating the brackets and paper holder against the bias springs releases the leading edge of the paper from the platen drum; by discharging a paper under frictional force just after completion of printing of the last color, a substantial length of a ribbon is saved by advancing the ribbon only for printing. Thus, when printing a third color after printing the first and second colors, the rotation of the paper holder enables the partially printed paper to be lifted away from the platen by its intrinsic resilient force. As a result, printing of the last color is performed simultaneously with discharging of the completely printed paper.