HOLLYWOOD, Fla. (Nov. 6)
Ownership of the Jewish Telegraphic Agency, Inc., the worldwide Jewish news service, has passed to the American Jewish News Foundation, Inc., Eleazar Lipsky, president of JTA, announced here today.
Mr. Lipsky informed the Large City Budgeting Conference of the Council of Jewish Federations and Welfare Funds that all the stock in the news agency, which is a nonprofit communal enterprise, had passed to the Foundation, completing a structural reorganization of the agency, commenced in 1960. Documents transferring ownership of the shares from the Jewish Agency to the Foundation were signed yesterday.
The Foundation was set up last month by the board of directors of JTA as a non-profit membership corporation, to serve as the instrument of the American Jewish community in the ownership of the news service.
The Jewish Telegraphic Agency is the only worldwide agency specializing in news and information concerning the Jewish people. Established in 1917, it has news bureaus and correspondents in most Jewish centers of the free world. It serves more than 300 newspapers and radio stations from news distribution bureaus in New York, London, Tel Aviv, Johannesburg, Buenos Aires, Sao Paulo and Lima.