The Baltimore Banner’s parent organization will buy the Pittsburgh Post-Gazette and turn it into a nonprofit news outlet under a deal intended to ensure the survival of one of the country’s oldest newspapers.
The Venetoulis Institute for Local Journalism announced Tuesday that it had signed an agreement to purchase the assets of the Post-Gazette from Block Communications Inc., the family-owned company that has operated the paper for nearly a century.
The deal prevents the permanent closure of the newspaper, which was expected to distribute its last edition on May 3. Under the purchase agreement, the Post-Gazette’s assets will transfer to the Venetoulis Institute on May 4.
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