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The Pittsburgh Post-Gazette, which has roots that date back to 1786, was set to close next month, in a major blow to the city and a sign of the distressed state of local news. Not any more.

On Tuesday, the Venetoulis Institute for Local Journalism, the parent company of the Baltimore Banner non-profit news website in Maryland, announced it had acquired the Post-Gazette for an undisclosed sum.

“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.”

Block Communications, owner of the Post-Gazette, had abruptly announced in January that it would cease operations at the paper, citing heavy losses over the past two decades. But the company, which also publishes the Toledo Blade, had chafed at a years-long strike by Post-Gazette employees over unfair labor practices. Andrew Goldstein, president of the Newspaper Guild of Pittsburgh, had accused the Block family at the time of choosing to close the paper instead of following labor law after an adverse court decision.

In a statement on Tuesday, the chairperson of Block Communications, Karen Johnese, claimed that the family had “worked to find the best possible source for responsible local journalism for the Pittsburgh region”.

“We are excited to hand our treasured paper over to such a committed and creative organization,” Johnese added. “We trust in their integrity and care for our community.”

The New York Times, which first reported the sale, quoted Cohn as saying that the publication would hire back a “large number” of the employees who were laid off as part of the planned closure. The Banner, which was founded in 2022, has already won a Pulitzer prize and has embarked on an ambitious expansion into other parts of Maryland.

The transaction will go into effect on 4 May, a day after the Post-Gazette was scheduled to close.

“We are hopeful for a new direction at the Post-Gazette that actually values journalism,” Jon Schleuss, president of the NewsGuild, said in a statement. “There are still a lot of details to iron out, including the several million dollars the Blocks owe journalists for violating federal law.

“We are dedicated to working with ownership that follows the law, respects workers’ union rights and invests in a newsroom delivering high-quality local news. Pittsburgh has made it clear it will accept nothing less.”