Heavily in Debt, Newseum Considered Risky Strategy to Improve Finances

Nearly seven years after opening a $477 million complex on a prime parcel of Pennsylvania Avenue, the Newseum floated a document saying it would consider offering an ownership stake in its building in exchange for an immediate influx of funds.

Burdened by $307 million of debt, museum officials wrote in November about a strategy that included offering equity investors shares in the sprawling complex, which encompasses the museum, a conference center, parking garage, luxury apartments and a high-end Wolfgang Puck restaurant, according to internal documents obtained by The Washington Post.