Bid to buy Antioch College falls through
Mar 31, 2008 12:28 PM
Negotiations to sell Antioch College in Yellow Springs, Ohio,
to an independent corporation of wealthy alumni have failed. The college
will close for at least one year on June 30 as originally planned unless faculty
win a pending lawsuit against the school. Antioch University, the school's
parent organization had agreed to a purchase price of $12.2 million, but
subsequently rejected the offer. The university says it needs the entire amount
up front to keep its creditors satisfied.
Click here to read The
Dayton Daily News article.
FROM OCTOBER 2007: Alumni of Antioch College in Yellow Springs, Ohio, will present a plan at
the end of the month to keep the school from temporarily closing. Art Zucker,
chairman of the school's board of trustees, says alumni have raised about $12
million in cash and pledges to try to keep the college from closing next summer.
Antioch officials announced in June that they intend to restructure the college,
upgrade facilities and reopen in 2012. (Columbus Dispatch)
EARLIER: The board of trustees at Antioch College in Yellow Springs, Ohio,
says that the school has run out of money and will close in July 2008. Only a
few hundred undergraduates are willing to pay $35,400 a year for tuition, room
and board to attend this laboratory for American liberal education, where verbal
assessment—not grades—is a measure of academic performance. (Los Angeles Times)
