This is correct. Actually, it's Falwell's son who has helped turned the tide at Liberty. Jerry Falwell Jr. is the schools chancellor, and a lawyer who appears to have a much better head for business than his dad did.
They want to go FBS in the next few years, and have announced a feasibility study.
Liberty was 7-4 this past season, almost made the FBS playoffs, and hired Gill only because their old coach, Ken Rocco, went to Richmond.