JAMESTOWN -- Employees of the Block Island Times have reached agreement to buy the paper from Jeff McDonough, the paper's publisher and owner of the Jamestown Press which will continue to publish the Times weekly as well the Press. The buyers would not say what the purchase price was, but the owner of the controlling interest in the Times, Bruce Montgomery, said it was "more than $200,000." Montgomery, a retired advertising executive, who has owned a house on Block Island since 1975, has been contributing to the Block Island Times for several years, most recently as an editorial cartoonist. He recently became a full-time resident of Block Island, moving into his house-there. About a half dozen staff members, including the editor, Kevin Weaver, are among the purchasers, along with Montgomery, The Providence Journal reported.