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Graham Holdings Company (NYSE: GHC) is a renowned diversified education and media enterprise. The company operates across various sectors, including educational services, television broadcasting, cable systems, and online, print, and local TV news. Its principal subsidiaries include Kaplan, a global leader in education, and Graham Media Group, which owns several prominent television stations like WDIV in Detroit and KPRC in Houston.
In addition, Graham Holdings owns Cable One, offering cable services to small-city subscribers across 19 states, and The Slate Group, known for its digital media brands such as Slate and Foreign Policy. The company is also invested in healthcare through Celtic Healthcare and Residential Healthcare Group, and boasts industrial holdings like Forney Corporation and Joyce/Dayton Corp.
Graham Holdings segments its operations into seven key areas: Kaplan International, Higher Education, Supplemental Education, Television Broadcasting, Manufacturing, Healthcare, and Automotive. The Kaplan International division, encompassing higher education, test prep, language instruction, and professional training, is the primary revenue driver. Television broadcasting is another significant revenue source, primarily through advertising.
The company is committed to innovation, with Trove spearheading digital advancements and SocialCode leading in social marketing solutions. Recent achievements include strategic partnerships, technological innovations, and expansions in educational services and digital media.
The Kaplan Educational Foundation (KEF) has announced its new cohort of scholars for the 2024-2025 Kaplan Leadership Program (KLP). The program, established in 2006, supports low-income community college students in completing their associate degrees and transferring to selective four-year institutions. The program provides comprehensive support including stipends, tutoring, academic advisement, and leadership training. Eleven new scholars from various community colleges have been selected. The program boasts a 92% bachelor's degree completion rate, significantly higher than the national average of 16% for community college transfers. KEF recently received a three-year grant from the Ichigo Foundation to launch a Community College Bridge Program targeting high school students.
Residential Home Health and Hospice, a division of Graham Healthcare Group, has been named a 2024 Top Workplace by the Chicago Tribune for the sixth consecutive year. The award, which recognizes companies in the Chicago metro area for employee satisfaction and engagement, is based on confidential employee feedback collected through Energage's third-party survey.
The survey evaluates workplace culture aspects including coaching, connection, engagement, leadership, and benefits. Companies must maintain a significant presence in greater Chicago and meet minimum employee participation requirements to qualify. Senior VP LeeAnn Lang emphasized that this recognition reflects their commitment to building a culture of excellence and employee satisfaction.
Residential Home Health and Hospice, a division of Graham Healthcare Group, has been named a 2024 Top Workplace by the Detroit Free Press for the 14th consecutive year. The award, which recognizes excellence in employee satisfaction and engagement in the Detroit metro area, is based on confidential employee feedback collected through Energage's third-party survey.
The survey evaluates workplace culture factors including coaching, connection, engagement, leadership, and benefits. Companies must maintain a significant Detroit presence and meet minimum employee participation requirements to qualify. Senior VP LeeAnn Lang emphasized the recognition's alignment with their commitment to building a culture of excellence and employee satisfaction.
Kaplan has been awarded the 2025 Military Friendly® Employer designation, recognizing its dedication to creating meaningful benefits for the military community. The designation was earned through evaluation of public data and proprietary survey responses among over 1,200 participating companies.
Scott Kilgore, Chief Customer Officer and U.S. Army veteran, emphasized Kaplan's commitment to empowering military personnel, highlighting how their leadership and capabilities strengthen the organization. The recognition will be featured in the December 2024 issue of G.I. Jobs® magazine, with Kaplan joining other employers who have demonstrated excellence in military personnel integration.
Graham Holdings Company (NYSE: GHC) has announced a virtual Investor Day scheduled for Tuesday, December 10, 2024, from 1:00 p.m. to 2:30 p.m. ET. The event will feature a live webcast including audio and presentation slides, focusing on the company's operations and financials, along with a presentation from the management team. Registration is required through the company's website. An archived recording will be available after the event for those unable to attend live.
Graham Holdings Company (NYSE: GHC) reported strong Q3 2024 financial results with revenue increasing 9% to $1,207.2 million from $1,111.5 million in Q3 2023. The company posted operating income of $81.6 million, compared to a loss of $57.1 million in Q3 2023. Net income reached $72.5 million ($16.42 per share). Growth was driven by improvements in education, television broadcasting, healthcare, and automotive sectors. Adjusted operating cash flow increased to $126.1 million from $83.7 million year-over-year. The company maintains a strong financial position with $1,114.0 million in cash and investments.
Syracuse University College of Law has partnered with Kaplan to provide free comprehensive bar exam preparation courses to all graduating students through Kaplan's award-winning All Access License. Starting with the Class of 2025, students will receive comprehensive academic support services from orientation through graduation, including integrated curriculum, diagnostics, and assessments. This initiative aims to enhance student preparation for the bar exam and improve academic support efforts. Syracuse Law joins other institutions like Xavier University of Louisiana, Howard University, and Delaware State University in adopting Kaplan's All Access program, which was recognized with Fast Company's World Changing Ideas Award in the large business category.
Kaplan has been named a winner in Inc.'s 2024 Power Partner Awards, recognizing leading B2B organizations that help businesses grow. The award acknowledges Kaplan's role as a global educational services provider, particularly its success in supporting businesses and educational institutions through professional development and educational programs.
Key partnership offerings include the Kaplan All Access License for colleges and universities, education-as-benefit programs for employee advancement, and career coaching services. The selection process included evaluation of partner feedback, highlighting successful collaboration and mutual satisfaction. This recognition positions Kaplan among elite companies in various sectors including marketing, health, financial services, and education.
Osmium Partners, the second-largest shareholder of Articore (ASX:ATG), has issued a letter urging shareholders to vote for its four director nominees at the upcoming Annual Meeting on October 24, 2024. Osmium criticizes Articore's board for:
1. Persistent underperformance and share price decline
2. Multiple CEO changes and strategic misfires
3. Declining revenue for three years
4. Underperforming the ASX200 by ~100% since 2019
Osmium highlights its successful campaign with Leaf Group (NASDAQ: LEAF), which resulted in an acquisition at 1.4x EV/Sales. They argue that Articore's current 0.17x EV/Sales valuation is among the lowest for digital marketplaces, citing poor board decisions. Osmium plans to release a strategy to maximize shareholder value and urges votes for its nominees on Resolutions 4, 10, 11, and 12.
Kaplan's 2024 law school admissions officers survey reveals that most law schools lack official policies on using AI in admissions essays. Key findings include:
- Only 1% allow AI for essay writing, 45% prohibit it, and 54% have no policy
- 16% allow AI for brainstorming, 16% ban it, and 68% have no policy
- 15% allow AI for feedback, 15% prohibit it, and 70% have no policy
Admissions officers express concerns about AI diminishing applicants' voices and authenticity. Amit Schlesinger, Kaplan's executive director of legal programs, suggests that clear policies are needed to provide guidance and ensure a level playing field for applicants.
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