Citi Bike operator bought up by new company

A real estate company has bought the company that owns and operates the troubled Citi Bike program, a report said Friday.

REQX Ventures will own all of Alta Bicycle Share once the deal is completed and plans to double the number of bikes to 12,000, sources told Capital New York.

The price for an annual pass — currently $95 — is also expected to rise.

Neither company or the mayor's office would comment, the Web site said.

REQX owns bike share programs across the US and in Canada and Australia.

When the Citi Bike program was introduced, then-Mayor Bloomberg promised it wouldn't cost taxpayers any money.

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