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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.
Metis, a premier data science training provider and part of Kaplan, has partnered with Florida International University (FIU) to introduce the FIU Data Science Bootcamp. This 24-week online program starts in October and features a project-based curriculum crafted by leading professionals. Six specialized 4-week courses cover essential topics such as Python fundamentals, exploratory data analysis, machine learning, and natural language processing. The initiative aims to equip learners with vital skills for lucrative careers in the growing data science sector.
The Kaplan Educational Foundation announces the college acceptances of its latest cohort in the Kaplan Leadership Program, which supports low-income and underrepresented community college students in obtaining bachelor's degrees from prestigious institutions. Established in 2006, the program offers extensive resources including tutoring, advisement, and stipends. This year, students received acceptances from renowned schools including Princeton University and Haverford College, with a historical 87% graduation rate for Kaplan Scholars.
Graham Holdings Company (NYSE: GHC) reported a net loss of $67.5 million ($13.95 per share) for Q2 2022, down from a profit of $115.4 million ($22.99 per share) in Q2 2021. Excluding certain items, net income was $59.7 million ($12.07 per share), up from $44.6 million ($8.85 per share) in the prior year. Revenue rose 16% to $933.3 million, driven by gains in education, broadcasting, and healthcare. However, the company faced a $165.5 million loss on marketable equity securities and declines in manufacturing revenues.
Kaplan has partnered with Amazon to provide career and academic advisement support to 750,000 hourly Amazon employees in the U.S. The initiative is part of Amazon’s Career Choice program aimed at helping employees upskill for career advancement. Kaplan's services include program identification, success coaching, resume development, and job preparation. This collaboration aims to enhance employee satisfaction and engagement. Both companies anticipate significant positive impacts on employees' career trajectories, strengthening Kaplan's presence in the business-to-business sector.
Haig Partners LLC advised Lustine Automall in its sale to Graham Ourisman Automotive, a venture between Graham Holdings Company (NYSE: GHC) and Chris Ourisman. The acquisition includes Lustine Toyota and Lustine Chrysler-Dodge-Jeep-Ram located in Woodbridge, VA. Haig Partners has facilitated the sale of 15 dealerships in Virginia and 29 nationwide in 2022. The dealerships are expected to thrive in the competitive DC automotive market, benefiting from strong product offerings from Toyota and Chrysler-Dodge-Jeep-Ram.
Graham Holdings Company (NYSE: GHC) has acquired a Toyota dealership and a Chrysler-Dodge-Jeep-Ram dealership in Woodbridge, VA, from the Lustine Automotive Group. The financial terms of the deal were not disclosed. Christopher J. Ourisman will lead the operations at these dealerships with a team of industry professionals. Graham Holdings now owns five automotive dealerships, including locations in Rockville, Tysons Corner, Bethesda, and Manassas, VA, enhancing its market presence in the automotive sector.
The SEAL Future Foundation (SFF) has enhanced its partnership with Kaplan to provide U.S. Navy SEALs with Kaplan Credegree programs, allowing them to earn industry-recognized credentials at no cost. The programs include Certified Financial Planner, Certified Public Accountant, and many more, aimed at boosting job readiness. SFF's senior director emphasized the importance of these credentials for transitioning SEALs, while Kaplan's director expressed excitement in helping more veterans secure professional credentials. This initiative is aimed at preparing veterans for successful civilian careers.
Cleveland State University has become the first public institution in Ohio to offer free graduate exam preparation for its students. In partnership with Kaplan, students can access prep courses for the GRE, GMAT, LSAT, and MCAT, along with professional certifications. This initiative supports CSU's mission to enhance social mobility and reduce barriers to graduate education. A notable 40% increase in freshmen from the Cleveland Metropolitan School District was observed last fall, showcasing CSU's commitment to local communities.
Xavier University of Louisiana has announced a partnership with Kaplan to offer free prep courses for graduate admissions exams like GRE, GMAT, LSAT, and MCAT to all undergraduate students. This initiative aims to enhance student success without any out-of-pocket expenses. Xavier University, recognized for graduating a high number of African American medical professionals, aims to further support students in pursuing advanced degrees and professional certifications. The partnership aligns with Xavier's mission to foster a more equitable society through education.
Kaplan’s new service, Career Core, has been recognized by Fast Company in its 2022 World Changing Ideas Awards for its innovative approach to preparing students for the workforce. This initiative offers students access to industry-specific advisors and comprehensive career development resources. Designed to enhance job readiness, Career Core aims to support diverse student needs and boost operational efficiency for institutions. Kaplan seeks to expand its partnerships to further enhance this service, which generates over $1 billion in economic impact for university partners.
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