The D.C. museum dedicated to news and the First Amendment will relocate after Johns Hopkins University buys its building near the Capitol.
Johns Hopkins announced Friday that it has reached a $372.5 million deal with Freedom Forum, the creator and primary funder of the Newseum. The purchase is pending regulatory approvals.
The Newseum, first opened in 2008, will remain in the prime location for the rest of the year, Freedom Forum told The Washington Post.
"This was a difficult decision, but it was the responsible one," Jan Neuharth, chair and chief executive of Freedom Forum, said in a statement to the Post. "We remain committed to continuing our programs — in a financially sustainable way — to champion the five freedoms of the First Amendment and to increase public awareness about the importance of a free and fair press. With today’s announcement, we can begin to explore all options to find a new home in the Washington D.C. area."
Freedom Forum did not immediately respond to an inquiry.
The Newseum has faced recurring financial trouble. In part, it has had to compete for visitors with nearby Smithsonian museums with free admission. Newseum admission for an adult tops $25 per person.
Striking exhibits at the museum include portions of the Berlin Wall, a memorial listing the names of hundreds of journalists killed on the job and an exhibit on how news organizations ran toward danger on 9/11.
Johns Hopkins plans to move several graduate programs to the more than 400,000-square-foot building, including the Paul H. Nitze School of Advanced and International Studies (SAIS).
"With the acquisition and renovation of the Newseum, we will have an unparalleled opportunity to bring all of our current D.C.-based Johns Hopkins graduate programs together in a single, landmark, state-of-the-art building," university president Ronald Daniels said in a statement.
Stay with News4 for more details on this developing story.