Pittsburgh Post-Gazette acquired by Maryland non-profit

The Venetoulis Institute has acquired the Pittsburgh Post-Gazette and the transaction is set to take effect on May 4.

The Pittsburgh Post-Gazette was scheduled to close after its owner announced a shutdown in January. On Tuesday, the Venetoulis Institute for Local Journalism said it had bought the paper for an undisclosed sum. The sale follows a years-long strike and public disputes between the paper's employees and owner. Block Communications said it sought a responsible new owner for the region. Key facts: - The Venetoulis Institute, publisher of the Baltimore Banner, announced the acquisition; the transaction will take effect on May 4. - The new owner said it plans to rehire a large number of employees who had been laid off, according to reports. - Block Communications announced the planned closure in January citing heavy losses, and union leaders have reported outstanding claims related to alleged labor-law violations. Summary: The acquisition reverses a planned closure and keeps the long-running local paper slated to continue operating. The transaction takes effect on May 4, and both ownership and labor representatives say there are remaining details to resolve.