In the proposed Academies Act, which will be one of the first pieces of legislation the coalition government brings forward, the rules will be changed so that governors alone will be able to decide whether or not to turn their school into an academy. Parents and the wider community are explicitly excluded from the decision-making process.
Academy schools could be run by profit-making businesses and religious groups as well as by groups of parents. The sponsors are given the school land and buildings, and can decide which subjects are taught, and how. And once a school has become an academy, there's no clear way back into local authority control.
38 Degrees has set up an online action in which you can email your MP to ask him/her to oppose this move and sign an Early Day Motion against it.