A national nonprofit plans to take over ownership of five of Maine’s six daily newspapers as part of a landmark deal that could help preserve local news across the state.
The National Trust for Local News has entered into an agreement to purchase the Portland Press Herald and all of the other assets of Masthead Maine, with a closing date in late July, Reade Brower, owner of Masthead Maine, and Elizabeth Hansen Shapiro, chief executive officer and co-founder of the trust, said in interviews Monday.
“This is the most independent route I think I could have taken that maintains both the independence of the press and continuity for staff and readers,” Brower said. “I believe they want to continue to run this as a sustainable business, which I like, and I don’t believe they will try and drain resources, which I like.”
Read more at Pressherald.com