Kaplan remains core to Washington Post Company

August 07, 2013


Global education provider Kaplan will now be “clearly the core” of the Washington Post Company, said Kaplan CEO Andrew Rosen, following the announcement that the Washington Post Newspaper has been sold to Jeff Bezos, the CEO of Amazon.com Inc.

.


In an email sent to Study Travel Magazine, Rosen said, “I should make very clear that Kaplan not only remains part of the Washington Post Co., but it is now clearly the core of the Post Company.”

The Washington Post newspaper and other publishing businesses were sold to Bezos in an individual capacity for US$250 million. Kaplan, along with broadcast television stations, cable operations and other media properties are not part of the sale.

“Several years ago Don Graham [Chairman and CEO of the Washington Post Co] recharacterised the Post Company as an ‘education and media’ company (not the other way around); now that is even more manifestly the case,” said Rosen.

“For some years now, Kaplan has been the largest part of the Washington Post Co., and the most important determinant of its economic future. That wasn’t always understood by the broader market. It will be now,” he added.

While the newspaper industry has been in decline, “there are few, if any economic sectors that are more certain to grow over the next several decades than education”, said Rosen. “With our assets and expertise, Kaplan has the ability to become the world leader in education in decades ahead.”

Kaplan’s portfolio includes the Kaplan Higher Education Division, Kaplan Test Prep and Kaplan International, which offers English language, exam preparation and pathway programmes worldwide. In the 2013 second quarter financial report released by Washington Post Company – which intends to change the company name – the education division recorded revenue of US$548.2 million, compared with US$138.4 million for the newspaper division.

Print This Page Close Window Archive