The Charles Read Academy in Corby Glen will stay open after millionaire David Ross stepped in to save it.
The academy will join a group of other academies already under the umbrella of the David Ross Education Trust.
MP Nick Boles told the Journal: “I am obviously delighted. After strong representation from me and from Martin Hill, leader of the county council, the school will not close and will be transferred to the David Ross Foundation. The school will be in the hands of one of the strongest academy groups in the country which specialises in small schools in rural areas.
“This is a cherished institution in Corby Glen and it is excellent news that it will now have a secure future as part of the David Ross Educational Trust. I want to pay tribute to the parents and residents of Corby Glen who have campaigned so hard to keep Charles Read open.”
Mr Boles said he was relieved and that there were “moments when I did not know if it could come off”. He said that a number of children had already left Charles Read because of its uncertain future but that those children and their families who were considering going to the school in future “could do so with confidence”.