U of I changes name of entity formed to buy University of Phoenix. Already? Here’s why

The University of Idaho is working to change the legal name of the not-for-profit it created to acquire the University of Phoenix.

Why? Because the designation was already taken.

U of I officials realized after the deal became public in May that the name NewU was being used by another entity — it’s the name of a school, NewU University — according to a news release from the Idaho State Board of Education on Tuesday.

The university requested the name be changed to Idaho Education Initiatives instead.

But at a State Board special meeting on Wednesday, where the name change was up for approval, U of I attorney Kent Nelson said the university had discussed it further and settled on a different name, one that reflected Idaho’s status as the 43rd state in the union: Four Three Education.

The State Board voted yes to amend the not-for-profit’s articles of incorporation to reflect the new name.

The university formed the not-for-profit to purchase the University of Phoenix and all of its assets in a $550 million deal that came to light on May 17.

The State Board unanimously approved the acquisition on May 18, with nearly no public input or debate, just one day after it was unveiled to the public. U of I President Scott Green said a “very strict” nondisclosure agreement prevented university leadership from publicly disclosing the bid.

The university plans to operate the University of Phoenix separately from U of I, officials have said.

This story was originally published June 20, 2023 at 6:07 PM.

Angela Palermo

Idaho Statesman

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Angela Palermo covers business and public health for the Idaho Statesman. She grew up in Hagerman and graduated from the University of Idaho, where she studied journalism and business. Angela previously covered education for the Lewiston Tribune and Moscow-Pullman Daily News.  Support my work with a digital subscription