Johns Hopkins Acquires Newseum Building for $372.5 Million
Johns Hopkins University is buying the building currently housing the Newseum in Washington, D.C. for a whopping $372.5 million.
The deal was announced on Friday by the Freedom Forum, the creator and primary funder of the Newseum, stating that the building will be used as a consolidating center for Hopkins D.C.-based graduate programs.
The building sale follows a 16 month strategic review, announced by the Forum in 2017, to reconsider its funding priorities. The review revealed that selling the facility was the most viable option.
“This was a difficult decision, but it was the responsible one,” Jan Neuharth, chair and CEO of the Freedom Forum said.
“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, DC area.”
Freedom Forum has spent more than $600 million to fund and build the interactive news museum since it opened in 2008.
Meanwhile, the university is planning to use the state-of-the-art space to optimize it for current and future research, education and engagement while supporting the mission of the forum in promoting free expression and the advancement of democratic ideals.
“As a nonprofit academic research institution committed to advancing knowledge and the principles of free expression, Johns Hopkins will continue to use this iconic facility as a home for education, discovery, free and open debate and the preservation and advancement of democratic ideals,” the university statement reads.
“Johns Hopkins also is deeply committed to serving and engaging the public, and at this new facility we will continue to open the doors of the university for a variety of events and offerings.”