Pittsburgh Post-Gazette passes to nonprofit ownership
The Venetoulis Institute for Local Journalism has agreed to purchase the Pittsburgh Post-Gazette, pulling the 240-year-old paper back from the brink of closure, according to reporting by the New York Times, Wall Street Journal, and Washington Post.
The Post-Gazette had been due to cease publication in May following a protracted conflict between its parent company and the newspaper's union. The acquisition by the Venetoulis Institute, which also operates the Baltimore Banner, represents a transfer to the nonprofit model that has become an increasingly common rescue mechanism for regional titles under financial pressure.
No financial terms were disclosed by any of the outlets covering the transaction. The deal removes the immediate threat to one of the oldest continuously published newspapers in the United States, though the longer-term editorial and operational strategy under new ownership was not detailed in available reporting.