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Graham Holdings Company (GHC)

  • Mon, Aug. 10, 12:18 PM
    • Graham Media Group (NYSE:GHC) has named Heidi Schmid Whiting VP and general counsel, effective at the end of the month.
    • She's replacing John Ronayne, who is becoming VP and senior counsel before retiring next spring. Ronayne has been general counsel for 14 years.
    • Whiting comes to Graham with years of experience in cable/telecom, most recently as managing partner at Cinnamon Mueller.
    | Mon, Aug. 10, 12:18 PM | Comment!
  • Wed, Aug. 5, 8:34 AM
    • Graham Holdings (NYSE:GHC): Q2 EPS of $9.87
    • Revenue of $879.6M (+0.6% Y/Y)
    • Press Release
    | Wed, Aug. 5, 8:34 AM | Comment!
  • Thu, Jul. 2, 5:27 PM
    • Newly spun off from Graham Holdings (NYSE:GHC), Cable One (CABO +0.2%) is going to continue a focus on non-metro markets and on steadily increasing the download speeds it provides.
    • The Phoenix company offers Internet, phone and cable to Arizona and 91 other states largely in the western U.S., with more than 75% of customers in Mississippi, Idaho, Oklahoma, Texas and Arizona.
    • At last year's end, it had 686,671 residential and business customers, and more than 40% of revenue coming from residential video service.
    • Despite a rural focus, Cable One's baseline broadband offering starts at 50 Mbps downloads, with a premium option of 70 Mbps. It plans to keep adding speed to its premium tier and hopes to raise that speed to 100 Mbps by 2015's end.
    • The stock had a largely stable day today after its regular-way debut yesterday, debuting at $450.48 before closing down at $399.01.
    | Thu, Jul. 2, 5:27 PM | 2 Comments
  • Wed, Jul. 1, 12:49 PM
    | Wed, Jul. 1, 12:49 PM | 1 Comment
  • Wed, Jun. 17, 11:31 AM
    | Wed, Jun. 17, 11:31 AM | Comment!
  • Thu, Jun. 11, 8:34 PM
    • Cable One stock began when-issued trading today under the symbol CABO, ahead of its spinoff from Graham Holdings (GHC +1.4%), working between $405 and $400 before closing at $399.84.
    • That's about 36.9% of the share price for parent Graham Holdings, closing today at $1,085.
    • On July 1, Graham shareholders of record June 15 will receive a share of Cable One stock for every Class A and Class B GHC share they hold, via a tax-free transaction. There will be a $550M debt offering along with the spinoff to pay a special dividend. Graham has just under 5M shares outstanding.
    • In Graham's Q1 earnings report, cable revenues of $198.7M made up 23.5% of its total revenues of $846.1M.
    • Previously: Graham Holdings details timing of Cable One spinoff (Jun. 04 2015)
    | Thu, Jun. 11, 8:34 PM | Comment!
  • Thu, Jun. 4, 5:43 PM
    • Graham Holdings (NYSE:GHC) has offered details of its spinoff dividend for Cable One, the 19-state telecom subsidiary that's separating from GHC.
    • On July 1, GHC shareholders will receive one share of Cable One for each share of Graham Class A and Class B common stock held on the record date (the close of June 15).
    • Shareholders shouldn't recognize a gain or loss on the tax-free spinoff.
    • Cable One common shares should begin trading when-issued on NYSE beginning June 11, and regular-way trading on July 1 with the distribution.
    • Previously: Graham Holdings plans $550M debt offering for spinoff (Jun. 01 2015)
    • Previously: Cable One taps Coyle as CFO to prepare spinoff (Mar. 10 2015)
    | Thu, Jun. 4, 5:43 PM | Comment!
  • Mon, Jun. 1, 9:51 AM
    • Graham Holdings (NYSE:GHC) plans a debt offering of $550M in connection with its planned spinoff of Cable One.
    • Cable One will use proceeds to pay a special dividend to GHC.
    • The company intends to offer $450M in senior unsecured notes and the remainder through a senior secured term loan facility.
    | Mon, Jun. 1, 9:51 AM | Comment!
  • Thu, May 21, 3:49 PM
    • Graham Holdings (GHC -1%) has sold The Root, its online magazine focused on African American audiences, to Univision's La Fabrica.
    • The Root was launched by Donald Graham and Henry Louis Gates Jr. in 2008 and was part of GHC's Slate Group of digital publications.
    • Graham's "Other Businesses" category, which includes its digital publications, has been ramping up in revenue in recent quarters (up 153% to $63.3M in Q1), though that also includes the company's healthcare/hospice businesses, a space in which GHC has been acquisitive over the past year.
    | Thu, May 21, 3:49 PM | Comment!
  • Thu, May 14, 12:39 PM
    • Graham Holdings (NYSE:GHC) declares $2.65/share quarterly dividend, in line with previous.
    • Forward yield 1.06%
    • Payable Aug. 6; for shareholders of record July 20; ex-div July 16.
    | Thu, May 14, 12:39 PM | Comment!
  • Thu, May 7, 6:02 PM
    • Graham Media Group (NYSE:GHC) has named Michael Englehaupt its CTO and vice president, effective June 1. He'll lead IT and engineering strategy from a Chicago base.
    • Englehaupt previous was CTO at KQED TV and radio and has a background in IT, engineering and TV technology knowledge.
    • Graham Media Group holds five local TV stations, in Houston, Detroit, San Antonio, Orlando and Jacksonville, Fla.
    | Thu, May 7, 6:02 PM | Comment!
  • Fri, May 1, 9:53 AM
    • After some down premarket trading, Graham Holdings (NYSE:GHC) is up 0.7% in early trade after earnings from continuing operations slipped Y/Y to $3.62/share, from last year's $17.56/share.
    • Revenues were up 1% but declined across all the company's mainline businesses. "Other business" revenues that jumped 154% were boosted by 2014 acquisitions, including hospice service providers as well as screw jack maker Joyce/Dayton, but also include publishing arms Slate Group and Foreign Policy Group.
    • Revenue by segment: Education, $500.6M (down 4%); Cable, $198.7M (down 3%); Television Broadcasting, $83.6M (down 2%); Other, $63.3M (up 154%).
    • The company's proceeding with plans to spin off Cable ONE later in 2015, and to sell substantially all of its Kaplan KHE Campuses business, which should close in Q3.
    • Press release
    | Fri, May 1, 9:53 AM | Comment!
  • Fri, May 1, 9:27 AM
    • Graham Holdings (NYSE:GHC): Q1 EPS of $3.62
    • Revenue of $846.1M (+1.1% Y/Y)
    • Shares -2.3% PM.
    • Press Release
    | Fri, May 1, 9:27 AM | Comment!
  • Tue, Mar. 10, 7:06 PM
    • Cable One -- a 19-state telecom unit of Graham Holdings (GHC -1.8%) that's spinning off -- has chosen Kevin Coyle as its CFO to guide it toward public trading this summer.
    • Coyle has experience in the past five years doing strategic planning in the multi-dwelling unit and business sales areas for Charter and Comcast, and will report to CEO Tom Might.
    • Cable One will be spun off tax-free to shareholders of Graham Holdings -- whose cable revenues slipped 1% in Q4 and made up 21% of consolidated company revenues.
    | Tue, Mar. 10, 7:06 PM | Comment!
  • Fri, Feb. 20, 9:37 PM
    • Graham Holdings (NYSE:GHC) -- the former Washington Post Company -- was up 3.7% at the open and easily crested the $1,000/share mark again, following its Q4 earnings, before giving back all of the day's gains by midday.
    • Education revenues from Kaplan operations ($551.4M, nearly flat) still made up the bulk of its $925.3M in revenues, but particularly strong were revenues in TV broadcasting, up 20% to $102.4M (aided by political ads in a midterm election year). Operating income in broadcast was up 24% to $54.4M.
    • Revenue from "other businesses" (which includes digital-heavy publishing operations like Slate, Foreign Policy, The Root) more than doubled to $73.8M, from $30.7M.
    • Seems like unloading The Washington Post to Jeff Bezos made the rest of the business great, Benjamin Freed says. He notes that now-GHC shares opened at $560.14 that summer 2013 day, headed to $584.97 that week and it's been a "robust trajectory" ever since. From the time of the sale, shares are up 83% vs. the S&P's +22%.
    • Other companies are doing the same, he notes: See News Corp. (NASDAQ:NWSA) splitting off Twenty-First Century Fox (FOX, FOXA); Tribune Media (NYSE:TRCO) dropping publications into Tribune Publishing and thriving as a broadcast/real estate company; and Gannett (NYSE:GCI), which plans to spin off USA Today and its dailies.
    • Q4 earnings; press release
    | Fri, Feb. 20, 9:37 PM | Comment!
  • Fri, Feb. 20, 8:38 AM
    • Graham Holdings (NYSE:GHC): Q4 EPS of $17.31
    • Total revenue of $925.3M (+7% Y/Y)
    • Education revenue of $551.38M (+0.1% Y/Y)
    • Press Release
    | Fri, Feb. 20, 8:38 AM | Comment!
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Company Description
Graham Holdings Co together with its subsidiaries, operates as a diversified education and media company in the United States and internationally.