Wheeling Jesuit University has been purchased by the Diocese of Wheeling-Charleston to assure the future of the only Catholic university in the state.
Earlier this year, the school's board of trustees appealed to the diocese to help secure its long-term future and lower its operating costs. Specifically, the university was challenged by its long-term debt. Bishop Michael J. Bransfield responded by redeeming WJU's bonds.
In exchange for the bond redemption, the diocese will purchase all of the University's property for an undisclosed amount. The property will be leased back to the University at a nominal rate.
The school says in a statement that it will now "embark on a new strategy to reimagine, realign and renew the future of Jesuit education."