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Franklin U. buys Urbana

Franklin U. buys Urbana

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URBANA, Ohio (AP) — Urbana University in western Ohio will be a subsidiary of Franklin University under a partnership agreement announced by both schools.

The private universities announced the merger in statements and postings on their websites Tuesday. A Franklin spokeswoman says the Columbus school’s purchase of Urbana was effective Monday. Financial terms weren’t released.

Franklin is a commuter and online school serving about 10,000 students annually with a campus in the Brewery District and about a dozen satellite locations. Urbana is a liberal arts school with dormitories, sports teams and about 1,800 students.

School representatives say the partnership will allow Franklin to become more diversified and move into a new market segment. Urbana gets the support of a financially stable institution to help with financial challenges, including long-term debt.

Urbana will be led by a president who reports to Franklin’s administration.

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