The Library Company of Philadelphia, founded by Benjamin Franklin in 1731, agreed to a merger with Temple University on Thursday for a partnership that aims to combine the school's research and grant-writing programs with the library's vast historical archives.

The deal will be sent to the Pennsylvania Office of Attorney General and Philadelphia Orphans' Court for final approval. Upon completion, the Library Company will be absorbed by Temple Libraries but will retain its full staff, programs and collections.

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The Library Company is considered the city's oldest cultural institution was the first subscription library in the country. It is renowned for its collections of 17th-, 18th- and 19th-centu

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