ATLANTA (AP) - WSB-TV is reporting that a new buyer has come forward to acquire parts of the bankrupt Morris Brown College campus in a deal that could net creditors $12.5 million.
School President Dr. Stanley Pritchett testified Friday in federal court as part of an effort to seek more time to finalize a deal with developer Pope & Land Enterprises.
WSB-TV reports (http://bit.ly/15Kb5ET ) part of the school's 34 acres would be sold outright, including the Middleton twin-tower dorms, but not the administration building, John Lewis Gym and Wilkes Hall.
Judge Barbara Ellis Monro has to sign off on any sale.
The school was founded in 1881 by the African Methodist Episcopal Church and has struggled in recent years. The college once enrolled 3,000 students but had about 35 students last school year.
Information from: WSB-TV, http://www.wsbtv.com/index.html
(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)