“Johns Hopkins University is buying the landmark [Pennsylvania Avenue] building that houses the Newseum for $372.5 million, a purchase that will enable the struggling cultural institution devoted to news and the First Amendment to seek a new home in the Washington area.”
“The Freedom Forum — the private foundation that created the Newseum and that is its primary funder — said the museum will remain open at 555 Pennsylvania Ave. NW for the rest of the year.”
“The Newseum posted an annual deficit each year.”
Peter Prichard, chair of the Newseum board of trustees said in a release.
“We stand ready to continue much of the Newseum’s important work … through digital outreach, traveling exhibits, and web-based programs in schools around the world, as well as hopefully in a new physical home in the area.”
by, Adam Harris
“The university, which already has a significant presence in Washington, D.C., hopes to expand its influence in public-policy debates—and entice prospective students with another reason to enroll.
Making this acquisition possible is a string of wealthy donors that the university has been cultivating for some time. Daniels confirmed that Michael Bloomberg, the billionaire philanthropist and a Johns Hopkins alum, will be contributing to the purchase. The remainder of the money will come from the university’s budget and the sale of the institution’s other four properties in the city. Daniels did not disclose how much financial support the university will be receiving from Bloomberg, who has donated billions of dollars to Johns Hopkins over the years and announced a $1.8 billion donation to the school in November.”
The Newseum will remain open to the public through 2019.