The Port of New York Authority (now the Port Authority of New York and New Jersey) bought the bankrupt H&M Railroad and reorganized it as Port Authority Trans-Hudson in 1962. New Jersey Department of Transportation's Aldene Plan redirected Central Railroad of New Jersey and Reading Railroad trains from Communipaw Terminal in Jersey City to Newark Penn Station in 1967. The Pennsylvania Railroad merged with longtime rival New York Central Railroad in 1968 to form Penn Central Railroad, but Newark kept the name "Penn Station." In 1970, Penn Station became the sole intercity station in Newark when the Erie Lackawanna ran its last intercity trains through Broad Street Station.