Philadelphia's Historic Library Finds New Horizon as it Merges with Temple University.
The iconic Library Company of Philadelphia, founded in 1731 by none other than Benjamin Franklin, is set to embark on a new chapter as it agrees to merge with Temple University. The deal aims to combine the university's research and grant-writing programs with the library's vast historical archives, creating a powerhouse institution that will bolster both education and research endeavors.
The partnership has received backing from an impressive 84% of Library Company shareholders, while Temple's Board of Trustees voted unanimously in favor of the merger. Upon completion, the Library Company will be absorbed into the Temple Libraries but retain its full staff, programs, and collections, ensuring continuity for its loyal patrons.
As one of Philadelphia's oldest cultural institutions, the Library Company is renowned for its extensive collection of 17th- to 19th-century books, manuscripts, and documents. The library's significance dates back to its establishment as the first subscription library in the United States, earning it the title of "de facto Library of Congress" before the national capital moved to Washington D.C. in 1800.
The merger comes after years of financial struggles, with budget deficits plaguing the institution. However, this partnership presents a lifeline, providing stability and ensuring the preservation of its legacy. Temple University's president, John Fry, hailed the deal as an opportunity to enrich academic and research resources, while the Library Company's director, John Van Horne, expressed gratitude for the university's support.
An integration council will be formed in the coming months to oversee the merger, and university officials have expressed hope that this partnership will attract more shareholders. The future of the Library Company now lies with Temple University, an institution dedicated to serving the city and beyond – a testament to Benjamin Franklin's enduring vision for education and progress.
The iconic Library Company of Philadelphia, founded in 1731 by none other than Benjamin Franklin, is set to embark on a new chapter as it agrees to merge with Temple University. The deal aims to combine the university's research and grant-writing programs with the library's vast historical archives, creating a powerhouse institution that will bolster both education and research endeavors.
The partnership has received backing from an impressive 84% of Library Company shareholders, while Temple's Board of Trustees voted unanimously in favor of the merger. Upon completion, the Library Company will be absorbed into the Temple Libraries but retain its full staff, programs, and collections, ensuring continuity for its loyal patrons.
As one of Philadelphia's oldest cultural institutions, the Library Company is renowned for its extensive collection of 17th- to 19th-century books, manuscripts, and documents. The library's significance dates back to its establishment as the first subscription library in the United States, earning it the title of "de facto Library of Congress" before the national capital moved to Washington D.C. in 1800.
The merger comes after years of financial struggles, with budget deficits plaguing the institution. However, this partnership presents a lifeline, providing stability and ensuring the preservation of its legacy. Temple University's president, John Fry, hailed the deal as an opportunity to enrich academic and research resources, while the Library Company's director, John Van Horne, expressed gratitude for the university's support.
An integration council will be formed in the coming months to oversee the merger, and university officials have expressed hope that this partnership will attract more shareholders. The future of the Library Company now lies with Temple University, an institution dedicated to serving the city and beyond – a testament to Benjamin Franklin's enduring vision for education and progress.
. I mean, I get that it's great for the library, but have you seen how massive Temple University is? Like, they're gonna just absorb The Library Company whole and then what's left of its identity? It's like, losing the independence that makes it special in the first place 
.
They're still gonna have to sort out budget deficits. I just don't get why they couldn't've found other solutions that didn't involve giving away their autonomy. 
! I mean, can you imagine having access to that much history and knowledge in one place? The idea of combining research programs with historical archives is pure genius 
. I'm hyped that Temple University is stepping up to support this iconic institution. It's a win-win for both the Library Company and the university 
. Plus, it's amazing to see how Benjamin Franklin's vision for education and progress is still alive and thriving today 
. The fact that they're going to absorb the staff and programs means continuity for the patrons, which is great news 
. Can't wait to see what this partnership brings!
gotta wonder if merging with a university is really gonna help them out financially 
. It's crazy that they were struggling financially but now get to join forces with Temple U and boost their resources 
. I mean, can you imagine having access to all those historical archives and resources? It's like a treasure trove waiting to happen 
! Plus, it's awesome that the library is gonna keep its staff, programs, and collections intact – that's just the best news ever 
. Here's to a bright future for the Library Company! 
