The Steinman family’s ownership of LNP | LancasterOnline will come to an end in June when LNP Media Group is gifted to WITF.
According to WITF, the Steinman family is “gifting nearly its entire operation to WITF, creating a single, sustainable organization designed to fill a growing news gap in the region.”
LNP Media Group will become a subsidiary of WITF and is expected to continue printing the daily newspaper, as well as Lancaster Farming, at least for a time.
According to an article from LNP | LancasterOnline, Robert Krasne, chairman and CEO of Steinman Communications, said the expectation is “WITF has agreed they will continue to publish a seven-day a week newspaper with focus on Lancaster County for at least five years.”
“Krasne declined to offer financial details of LNP Media Group and its operations, including whether it makes money on an annual basis,” the LNP | LancasterOnline article said.
LNP will be converted into a Pennsylvania Benefit Corporation. According to the Pennsylvania Department of State, Pennsylvania Benefit Corporations are organizations “organized for profit, with a corporate purpose of creating general public benefit, in addition to any other purposes they have as a business corporation.”
WITF is also establishing The Steinman Institute for Civil Engagement, an endeavor they said was made possible with support from The Steinman Foundation. Krasne is expected to be the chair of the new institute.
WITF is a Harrisburg-based media organization that operates various public broadcasting stations. One of the company’s core values is listed as, “Diverse: WITF is committed to diversity, equity and inclusion in our content, organization and communities.”
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