Jewish Times publisher to sell two newspapers

Similar publications in Atlanta, Detroit going

November 02, 1999|By Shanon D. Murray | Shanon D. Murray,SUN STAFF

Waterspout Communications LLC, a Maryland holding company of which the family that operates the Baltimore Jewish Times is majority owner, has a letter of intent to sell two similar newspapers in Atlanta and Detroit, the local newspaper's publisher said yesterday.

Andrew Buerger, publisher of the Baltimore Jewish Times, would not comment on why the newspapers are for sale.

Arthur Horwitz, a minority owner of Waterspout and publisher of the Detroit Jewish News, said yesterday that he will join former Wall Street hedge fund manager Michael Steinhardt and Seth Lipsky, editor and publisher of a New York Jewish newspaper, to buy the Detroit paper and the Atlanta Jewish Times.

Buerger and Horwitz declined to disclose the purchase price.

Horwitz has been publisher of the Detroit Jewish News since 1986. The newspaper has a circulation of 18,000 and 50 employees. The Atlanta Jewish Times has a circulation of 10,000, and 25 employees.

Waterspout was founded by Charles A. Buerger, the late Baltimore Jewish Times publisher who was succeeded by his son Andrew. It purchased the Detroit paper in 1984 and the Atlanta paper in 1989.

The two newspapers are the only holdings of Waterspout, Buerger said.

The Baltimore Jewish Times, which was founded in 1919 by Charles Buerger's grandfather, is operated and partly owned by the Buerger family.

It has a circulation of 18,000 and 50 employees.

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