- Tennessee's Johnson Bible College (JPC) and Florida Christian College (FCC) have announced a merger that will result in a single, multi-state university system with online learning offerings.
- Going forward, JBC will be called Johnson University and the two schools will be part of the Johnson University System, with FCC taking on the name Johnson University Florida.
- The merger, which will benefit the FCC campus after a series of financial issues, will cost Johnson University about $10 million to complete.
From the article:
... “They came to us and proposed the merger, because they knew we had the (financial) leverage to do it,” Weedman said. The $10 million financial package to complete the merger includes a bridge loan of $7.5 million “that we got at a very good interest rate,” he said. ...