UPDATE (1:45 p.m.)—Route 95 Publications of Washington, D.C. has purchased the Baltimore Jewish Times, according to a report by Jewish Telegraphic Agency.
The purchase occurred Monday morning during a bankruptcy auction at the Jewish Times' Baltimore attorney's office.
Route 95 is the owner of Washington Jewish Week.
It was one of three bidders in the process. The others were:
- Dr. Scott Rifkin’s Baltimore Community Publishing, LLC, owner of Press Box, a sports publication
- H.G. Roebuck & Son, Inc., whose lawsuit against Alter led to Alter's bankruptcy and sale
According to a Baltimore Sun report, the purchase price was $1.26 million.
Louis Mayberg, a partner of Route 95 said in a Washington Jewish Week breaking news article that the group will develop "some efficiencies on the administrative side of the paper."
Plans include to "keep as many employees of the paper who can help make it better and stronger, and to bring in additional support ... ."
Route 95 plans to keep it as a Baltimore-based paper.
Bankruptcy court must approve the sale, it states.