A new reorganization plan for Alter Communications, which manages the Baltimore Jewish Times, would see the majority stake in the newspaper go to an investor group.

The group would pay $600,000 and receive 80 percent of Alter Communications, which is under bankruptcy protection.The remaining 20 percent would be divided among the rest of the company’s shareholders, mostly members of the Buerger family, which has published the Baltimore Jewish Times for 92 years.

Alter declared bankruptcy after the newspaper’s longtime printer filed a $1.2 million lawsuit. A bankruptcy judge is expected to hear the case soon.

Since 1996, Alter has sold off Jewish newspapers in Detroit, Atlanta, and Palm Beach and Boca Raton, Fla.. The Baltimore Jewish Times has a circulation of more than 50,000, as well as sister publications Style and Chesapeake Life. — jta