Venetoulis Institute Acquires Pittsburgh Post-Gazette

The Pittsburgh Post-Gazette, a 240-year-old newspaper facing imminent closure, has been acquired by the Venetoulis Institute for Local Journalism, a Maryland-based nonprofit that publishes the Baltimore Banner. The deal, announced Tuesday, will take effect on May 4, just one day after the paper's scheduled final edition on May 3, ensuring the continuation of local news coverage in western Pennsylvania.

Block Communications, which has owned the Post-Gazette since 1927, had announced in January its plan to cease operations due to longstanding financial losses exceeding $350 million over the past two decades. The decision followed a Supreme Court refusal to hear an appeal of a November ruling that restored union contracts for the paper's workers. Unionized staff had ended a three-year strike that month and returned to work. Officials from Block Communications noted that about 10 potential buyers expressed interest, but the Venetoulis Institute was selected not solely for its bid but for its commitment to sustainable journalism.

Under the new ownership, the Post-Gazette's newsroom and local management will remain based in Pittsburgh, with the newspaper's name unchanged. Print...