University of Idaho extends Asset Purchase agreement for University of Phoenix

MOSCOW, Idaho — The Board of Regents for the University of Idaho approved the university's request to extend the Asset Purchase Agreement for the University of Phoenix transaction through June 10, 2025.

The extended time is to allow legislators and stakeholders to continue conversations and incorporate more feedback from other legislators, as well as other Idaho stakeholders into the transaction and make amendments based on the feedback received. 

Any amended transaction has to go to the Regents for potential approval and consideration in an open meeting with the public.

“The merits of this affiliation have never been stronger,” U of I President Scott Green said. “The value to Idaho’s educational system, adult learners and Idaho’s industries is transformational. The affiliation also diversifies revenue streams and strengthens our financial future.” 

The extension also includes several other measures which can be found below:

• Allowing other potential buyers to be considered by the owners.
• If University of Phoenix owners entertain other offers, then U of I will receive $5 million upon signing the extension agreement.
• U of I will receive an additional $5 million ($10 million in total) if the deal is not closed by June 30, 2025.
• If the University of Phoenix sells to another entity, U of I will receive $15 million ($20 million in total).

According to a press release, the University of Phoenix continues to show enrollment growth, at 8%, and continues to improve in retention and graduation rates. Its adjusted EBITDA is well over the $150 million forecasted a year ago and its free cash flow for the last year is well over $200 million. 

RELATED: Here is a fun activity you can do for under $30 in Idaho

RELATED: University of Idaho promotes Arthur Moreira to head coach of the women's basketball team

KREM ON SOCIAL MEDIA: Facebook | Twitter | Instagram | YouTube

DOWNLOAD THE KREM SMARTPHONE APP 
DOWNLOAD FOR IPHONE HERE | DOWNLOAD FOR ANDROID HERE

HOW TO ADD THE KREM+ APP TO YOUR STREAMING DEVICE 

ROKU: add the channel from the ROKU store or search for KREM in the Channel Store.

Fire TV: search for "KREM" to find the free app to add to your account. Another option for Fire TV is to have the app delivered directly to your Fire TV through Amazon.

To report a typo or grammatical error, please email webspokane@krem.com.