And complete text:
Ohio: Alumni Group to Buy College
By THE ASSOCIATED PRESS
Published: June 30, 2009
Antioch University agreed to transfer the campus of the financially struggling Antioch College to an alumni group that plans to turn it into an independent school. But any reopening of Antioch College is at least two years away and hinges on a list of conditions. The university temporarily closed the college in Yellow Springs a year ago because of financial problems caused by declining enrollment, a heavy dependence on tuition and a small endowment. The college was the flagship of Antioch University, which also has campuses in Seattle, Los Angeles, Santa Barbara, Calif., and Keene, N.H. The alumni group has agreed to pay the university $6 million for the campus, located about 15 miles east of Dayton, and the college’s endowment. The transfer of assets cannot occur until a list of conditions have been met, including approval from the Ohio Attorney General’s Office and university bond holders.
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