The trials of Kaplan Higher Ed and the education of The Washington Post Co.
By Steven Mufson and Jia Lynn Yang,
WashPost
Saturday, April , 9:20 PM
Eleven years ago, one of Washington’s most tradition-bound companies placed a bet that would transform its fortunes.
The wager, by The Washington Post Co. and its Kaplan division, took the form of a $165 million purchase of an Atlanta-based chain of for-profit vocational schools that catered to low-income students.
The bet was big — the price equal to the profits earned that year by The Post Co.’s print-media pillars: this newspaper and Newsweek magazine. So was the payoff.
The acquisition of the firm, called Quest Education, turbocharged the rise of Kaplan, a modest business that had until then mainly prepared students for standardized tests.
(More here.)
WashPost
Saturday, April , 9:20 PM
Eleven years ago, one of Washington’s most tradition-bound companies placed a bet that would transform its fortunes.
The wager, by The Washington Post Co. and its Kaplan division, took the form of a $165 million purchase of an Atlanta-based chain of for-profit vocational schools that catered to low-income students.
The bet was big — the price equal to the profits earned that year by The Post Co.’s print-media pillars: this newspaper and Newsweek magazine. So was the payoff.
The acquisition of the firm, called Quest Education, turbocharged the rise of Kaplan, a modest business that had until then mainly prepared students for standardized tests.
(More here.)
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1 Comments:
THANKS for posting this article.
Alghough it was written and published by WP about a WP company, it appears to have presented the situation in a fair and reasonable manner.
FYI : In a victory for taxpayers, a spokesman for Senate Majority Leader Harry Reid (D-NV) stated that the 2011 budget agreement does not include prohibition against the issuance of "Gainful Employment" rules.
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