The Pittsburgh Post-Gazette, a newspaper with roots dating back to 1786, has been saved from closure by the Venetoulis Institute for Local Journalism. The nonprofit organization announced Tuesday it had acquired the struggling paper just days before its planned shutdown on May 3.
Key Takeaways
The Pittsburgh Post-Gazette has been sold to the Venetoulis Institute for Local Journalism, saving it from closure. The nonprofit plans to maintain print editions and a website. Key details about staffing and investment remain uncertain.
- Nonprofit acquires Pittsburgh Post-Gazette days before planned shutdown
- Print editions will continue on Thursdays and Sundays
- Financial terms of the deal were not disclosed
- New ownership aims to preserve local journalism in western Pennsylvania
- Employees express relief but await clarity on roles and investments
According to The Guardian, the Venetoulis Institute, which publishes the digital Baltimore Banner, agreed to buy the Post-Gazette's assets from Block Communications. Financial terms of the deal were not disclosed. The new owners plan to continue printing the newspaper on Thursdays and Sundays while operating a website on other days.
The sale comes at a difficult time for the American newspaper industry, which has faced significant challenges due to the internet's impact on traditional revenue models. As reported by PBS, Block Communications had announced in January that it would shut down the Post-Gazette, citing heavy losses over the past two decades and labor strife.
The Venetoulis Institute's CEO, Bob Cohn, expressed commitment to building a new future for local journalism in western Pennsylvania. The institute has appointed David Shribman, former executive editor of the Post-Gazette, to its board of directors. According to CBS News, Stewart Bainum Jr., head of the Venetoulis Institute, believes in a nonprofit model to save newspapers and sees a path forward that combines great journalism with a diversified business model.
The sale has brought relief to employees who had been worried about the paper's future. Steve Mellon, a longtime photographer at the newspaper, told PBS he is more hopeful now for the future of the Post-Gazette than he was yesterday. However, many questions remain, such as how many staff members will stay on with new ownership and how much Venetoulis would be willing to invest in a newspaper that has been losing money.
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