Another historic US masthead is for sale, with the threat of closure of print and digital editions if a new owner is not found.

This time it’s the Toledo Blade in danger as its publisher, Block Communications looks for a solution to mounting losses, setting a deadline of the end of this year.

Earlier this year, Block sold the Pittsburgh Post-Gazette to the nonprofit Venetoulis Institute for Local Journalism a fortnight ahead of a May deadline, after announcing a similar threat in January.

Despite the predicament in which publishers increasingly find themselves, there’s a likelihood that a purchaser will come forward.

President and chief operating officer Jodi Miehls had told staff the Block family’s “continued investment” to continue publication of the Pulitzer Prize-winning Blade was “no longer an option”.

Established in 1835, The Blade was acquired by Paul Block in 1926.