Library Company of Philadelphia, founded by Benjamin Franklin in 1731, agrees to merger with Temple University

Philadelphia's Oldest Institution Set to Merge with Temple University in Historic Deal

The Library Company of Philadelphia, America's oldest cultural institution, has agreed to merge with Temple University in a partnership that aims to combine the university's research and grant-writing programs with the library's vast historical archives. The deal, which was met with overwhelming support from both parties, will see the Library Company absorbed by Temple Libraries but retain its full staff, programs, and collections.

Founded in 1731 by Benjamin Franklin, the Library Company is renowned for its extensive collection of 17th- to 19th-century books, manuscripts, and documents. At one point, it served as the de facto "Library of Congress" before the national capital moved to Washington, D.C., in 1800. The institution has faced significant financial challenges in recent years, including budget deficits that had been growing for years.

According to officials, the Library Company would need to raise $23 million to stay independent, prompting exploration of merger options. Temple University's Board of Trustees unanimously approved the deal, while 84% of the Library Company's shareholders voted in favor of it. The integration council, comprising representatives from both parties, will be established in the coming months.

Temple President John Fry hailed the partnership as an opportunity to "further enrich our academic and research resources" while ensuring the legacy of the Library Company is preserved. For its part, the Library Company's director, John Van Horne, expressed confidence that Benjamin Franklin would approve of the expanded education mission of the university and the partnership.

The merger brings stability to the Library Company, which has been navigating financial challenges for years. The institution will continue to operate from its longtime headquarters at 1314 Locust St., with Temple University providing the necessary support to ensure its continued success.

idk about this deal, feels like they're sacrificing too much of their identity ... I mean, it's not all bad tho, temple uni is pretty legit and they'll probs help them keep those old documents safe. but i worry that the library company will lose some of its chill vibe with all these new ppl coming in . benjamin franklin was a total OG, you know? and now his legacy is being merged into some big ol' university . plus, think about it, what happens when they run out of space or funding? will the library company just get swallowed up by temple uni? don't get me wrong, stability is important, but sometimes i think we lose a little too much character in the process

omg can u believe philly's oldest library is merging with temple university!! i was talking to a friend who works there and she said they were super close to closing down bcs of financial issues but now it's like a weight has been lifted off their shoulders the libco has always had that rich history and ben franklin vibes going on - it'll be so cool to see how temple university incorporates all that into their education programs i'm curious to see what kind of new resources they'll develop with all those historical archives

I'm all about this! A merger like this is a win-win for both parties, right? The Library Company gets stability and support while Temple University gets to tap into those amazing historical archives and research resources. I mean, who wouldn't want to be the "Library of Congress" again? It's like having two brains working together, you know? And let's not forget about the books and manuscripts – all that history is just sitting there waiting to be studied and shared with the world!

I gotta say, merging the Library Company of Philly with Temple Uni is a game-changer! It's like they're preserving history and unlocking new knowledge at the same time. The idea of combining research and archives is genius . I'm stoked that Ben Franklin's legacy will live on through this partnership - it's a win-win for everyone involved! Now, let's keep an eye on how this merger plays out and if they'll be able to find that sweet $23 million to stay independent... but overall, it looks like things are looking up for the Library Company .

Ugh, I'm so over these mergers and partnerships . It's just another example of how institutions are getting too big and losing their individuality. I mean, what's wrong with the Library Company being independent? Did it really need Temple University to save it? The fact that they had to raise 23 million dollars to stay afloat is pretty telling... maybe they shouldn't have been so slow on the draw . And now they're just gonna get swallowed up by Temple and lose all their autonomy . I guess it's better than going under, but still, it feels like an erosion of what makes these institutions special in the first place .

idk why ppl r so hyped about this merge... like, temple uni is a big org and it'll prob suck some life outta the lib co's independence . it's gonna be a corporate grind just like every other uni. plus, they say ben franklin would approve of it? lol what if he was all "nah i meant for this to happen in 1776 not now"?

omg just read about this crazy deal between philly's oldest lib & temple u library co has been strugglin financially but now it's gonna be part of a bigger org, which is def a good thing for them lol ben franklin would prob approve of the whole edu mission expansion anyway i'm curious how they plan to integrate their archives with templu's research programs... hope it all works out

just thinkin about this merge, i mean benjamin franklin would've wanted this right? he was all about knowledge and growth, so it makes sense that temple university is takin on the library company's collections and archives. plus, think about how many people they'll be helpin out with their research programs... but at the same time, i'm worried about losin the library's independence. what if temple uni just absorbs all the historical stuff and forgets where it came from? anyway, glad to see stability for the library company, that's def a plus

just heard about this massive deal between library co and temple uni... i'm low-key hyped! think its gonna bring so much life to the city, especially for education & history buffs . ben franklin's legacy is being taken care of & that's amazing in itself. cant wait to see how this partnership unfolds & what kind of innovative stuff they'll come up with... stability for the library co is a huge win too .

I'm super stoked about this! I mean, can you think of a better way to preserve history than by merging it with education? The Library Company's archives are like, totally invaluable to researchers and historians, and now they're gonna get the resources they need from Temple University. Plus, it's awesome that the staff is getting kept on board - I'm sure they'll bring their expertise to the table (no pun intended). It's all about preserving knowledge for future generations, right? And who knows, maybe Benjamin Franklin himself would be proud of how his beloved Library Company is being taken care of.

u guys, just read that America's oldest library is merging with a university and i'm low-key freaking out . like, what's next? our national archives gonna be sold off to the highest bidder? $23 million or more to stay independent? sounds like temple uni is just buying its way into history . don't get me wrong, preserving the library's collections is important, but at what cost? i'm all for progress and all, but can't we just support these institutions through better funding instead of letting them get bought out?

omg what a relief that they're finally getting out of the financial hole temple university is basically buying them out lol, i guess benjamin franklin would've wanted his legacy tied to some big uni at least it's not like the library company was going under and all the history woulda been lost anyway can't wait to see what kinda crazy research projects they'll be working on with that massive archive

this is amazing news! i mean, philly's got a ton of history and culture already but merging it with temple uni takes it to a whole new level can't wait to see what kind of cool exhibits they come up with combining the library's archives with the university's research programs

I'm low-key impressed by this merger deal ! The Library Company of Philadelphia is basically a national treasure, and merging it with Temple University seems like a win-win for everyone involved. I mean, who wouldn't want access to all that historical archives? It's gonna be sick to see what kind of research they'll do there . Plus, it's great that the staff will get to keep doing their thing, no changes or cuts. The fact that Temple is stepping up to support them financially is a big plus too . Can't wait to see what kind of innovative projects come outta this partnership !

I think this merger is a win-win for both parties involved . It's fascinating to see how Temple University is taking steps to bolster its research and grant-writing capabilities while also preserving the rich history of the Library Company of Philadelphia ️. I mean, can you imagine having access to such an extensive collection of historical documents and manuscripts at your fingertips? It's like having a treasure trove of knowledge at your disposal . Plus, it's great that the institution is being given a new lease on life with this partnership – who knows what kind of innovative projects will come out of this collaboration?

awww man... i feel like some of our historical treasures are in danger of being lost if they're not taken care of properly but i'm so glad that this merger is happening! it's amazing that a place as old and iconic as the Library Company of Philadelphia is getting the help it needs to survive. temple university seems like a great partner, and it's awesome that they're committed to preserving the library's legacy and collections the fact that the library will get to continue operating from its own headquarters is just the icing on the cake i hope this merger brings new life to the library and helps it thrive for generations to come

I just read about this historic deal between the Library Company of Philadelphia and Temple University ... it's amazing how these institutions can come together for the greater good. I think what I love most is that the library will still be able to operate independently, but with a safety net provided by Temple. It's like having two strong wings supporting each other, which makes me think about my own retirement years and the importance of financial stability ... anyway, it's clear that both parties are committed to preserving the library's legacy and expanding education opportunities

omg I'm like so excited about this news! the library company of philly is literally America's oldest cultural institution and it's merging with temple university?! that's like, whoa! i mean benjamin franklin founded it back in 1731 can you even imagine what he'd think if he was alive today? the idea of combining their research and grant-writing programs with the library's archives is genius i hope they're able to make the most of this deal and preserve the legacy of the library company at the same time. stability is key for them after dealing with those budget deficits i'm just so glad they found a partner like temple university to help them out

So I think this is a great move for the Library Company of Philadelphia. They've been struggling financially and it's clear that they need some help staying afloat. Temple University seems like a solid partner, especially with their research programs - it'll be awesome to see all those resources combined. The fact that they're able to retain their full staff and keep their historic collections is huge too. I mean, who wouldn't want to preserve Benjamin Franklin's legacy? It's also good that the integration process is being handled by a council, so both sides have a say in how things go down. Overall, it seems like this partnership will bring stability and even more opportunities for education and research - win-win!