Newell had 14 of UT Martin's 29 points at the half and shot 4 of 5 from distance. Alex Anderson added 19 points on 50-percent shooting.
The Governors (7-16, 2-7 Ohio Valley Conference) were behind 29-24 at intermission but a slow start in the second - just two points in the first six minutes - had them trailing by 20 points. Austin Peay slowly climbed back from the deficit and five points from Chris Horton in an 8-1 run made it 68-60 with 1:20 to play.
The Skyhawks (14-8, 6-3) shot 8 of 8 at the line in the final minute and Austin Peay missed four 3-pointers to end it.
Josh Robinson finished with 15 points and Horton added 14 for the Governors.