(JTA) — The University of Nebraska Press has purchased the entire book inventory of the Jewish Publication Society.
The university’s Board of Regents approved the agreement last Friday despite concerns that the purchase of the publication society’s 250 book titles, for $610,000, would not be profitable.
JPS, a 123-year-old publisher based in Philadelphia, reportedly has an annual revenue of $1 million to $1.5 million. Half of its sales — about 50,000 books — are of the JPS Bible, the most widely read version of the Old Testament, according to the Lincoln Journal Star.
Under the agreement, JPS would continue to find and develop new works.
The University of Nebraska Press owns nearly 3,000 titles, including 50 Jewish studies titles and Bible commentary.