A Beijing-based company that runs bi-lingual K-12 schools in China and has been expanding into sports and arts training is seeking to buy Westminster Choir College from Rider University for $40 million.
The announcement by Rider this week of the non-binding agreement with Beijing Kaiwen Education Technology Co. was the first time the university has revealed the name of the interested party or a price tag. No further time line was detailed, and additional details of the agreement were not made public.
Rider last year announced plans to sell Westminster and its facilities, backing off an initial plan to close the Princeton-based campus and move Westminster's choral and music education programs to its main Lawrenceville, NJ campus. The prospect of a sale of the nearly 100-year-old choir college, whose choirs have performed with major U.S. orchestras and sung on Grammy-winning albums, alarmed some alumni and parents, prompting lawsuits challenging the legality of any sale that might put its legacy at risk.
A Tempo this Saturday (2/24 at 7 pm) will provide additional coverage of the announcement.
