"The Pittsburgh Post-Gazette announced Tuesday that it would be acquired by the nonprofit that owns The Baltimore Banner, avoiding its planned closure just weeks away."
"Block Communications shocked media observers earlier this year when it announced it would stop publishing the 99-year-old paper on May 3, blaming cash losses of over $350 million."
"We are committed to working with exceptional journalists, along with civic and business leaders across the region, to build a new future for local journalism in Western Pennsylvania."
"The Post-Gazette will continue printing twice a week, while the Banner is online only, and it remains unclear whether the deal will lead to layoffs."
The Pittsburgh Post-Gazette, facing imminent closure, will be acquired by the Venetoulis Institute for Journalism, which also owns The Baltimore Banner. Block Communications, the current owner, had announced plans to cease publication due to significant financial losses. The acquisition deal, details undisclosed, includes a $30 million commitment from Stewart Bainum Jr. to support both publications. The Post-Gazette will continue printing twice a week, while the Banner operates online only. Future staffing changes remain uncertain, but local leadership will remain in Pittsburgh.
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