The Post-Gazette is not going out of business on May 4, as previously planned.
Post-Gazette owners, Block Communications, announced that Baltimore-based, The Venetoulis Institute for Local Journalism, is acquiring the historic newspaper founded in 1786.
The move has been approved by the boards of both organizations and is scheduled to take effect on May 4.
Venetoulis is the parent company of The Baltimore Banner.
The Post-Gazette will remain in Western PA with the newsroom and business leadership staying in Pittsburgh.
Technology and business operations will be combined with the Baltimore Banner.
David Shribman, the former executive editor of the Post-Gazette from 2003 to 2019 will join the Venetoulis Board of Directors.
“For nearly a century, the Block family has been dedicated to public service in Pittsburgh,” said Stewart Bainum Jr., founder of the Venetoulis Institute. “We are honored that they trust us to continue this work.”
“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,” said Bob Cohn, CEO of the Venetoulis Institute. “We are clear-eyed about the task ahead. We have learned in Maryland that this work takes time, discipline, and investment.”
Venetoulis is a nonprofit organization “dedicated to strengthening and sustaining high-quality local journalism. Named for Ted Venetoulis, a Maryland civic leader and publisher who believed local journalism is necessary to protect democracy, it was founded in response to the nationwide erosion of local news.”
Financial terms of the deal were not disclosed and no other details were immediately made available.
