Graham Holdings: The Remains Of The Day
Thu, Sep. 8, 10:38 AM
Wed, Aug. 3, 11:31 AM
- Graham Holdings (NYSE:GHC) is off 0.8% after Q2 earnings where revenues fell for the fourth quarter in a row.
- Income from continuing operations rose to $60.8M from a year-ago $39.3M.
- But a number of adjustments came into play for the company's Q2 report. It logged a $38.6M non-operating gain from selling land and marketable equities (after-tax impact of $4.23/share); a $3.2M gain from forming a joint venture (impact of $0.29/share); $24.1M in unrealized foreign currency losses (impact of $2.73/share); and a favorable $5.6M deferred tax adjustment (impact of $1/share).
- Revenues fell 7.6%, falling at the company's Education division ($419.2M, down 20%) while being partly offset by increases in TV broadcasting ($96.5M, up 6%).
- Press Release
Wed, Aug. 3, 9:11 AM
Fri, May 27, 9:27 AM
- Nexstar Broadcasting (NASDAQ:NXST) has sealed three deals to sell five TV stations, a key step in the company's pursuit of Media General as it runs up against ownership rules.
- The rules have become a key factor in the takeover. A court ruling has ordered the FCC to update the rules it applies to station ownership, whcih may have a definite effect on Nexstar's transaction.
- In one deal it's selling WCWJ (Jacksonville, Fla.) and WSLS (Roanoke-Lynchburg, Va.) to Graham Media (NYSE:GHC) for $120M.
- It's also selling KADN and KLAF (Lafayette, La.) to Bayou City Broadcasting Lafayette for $40M, and KREG (Denver) to Marquee Broadcasting. KREG currently operates as a satellite station of Nexstar's KREX, but won't after the sale.
- The sales to Graham and BCBL are subject to the closing of Nexstar's transaction with Media General, expected later this year.
- The moves not only help Nexstar meet the 39% cap on TV households, but two of them also present opportunities for minority station ownership.
- Nexstar expects to announce more divestitures shortly.
Thu, May 12, 12:57 PM
Wed, May 4, 8:40 AM
Fri, Feb. 26, 9:21 AM
- Graham Holdings (NYSE:GHC): Q4 EPS of $8.72
- Revenue of $616.4M (-15.3% Y/Y)
Thu, Feb. 18, 11:12 AM
- Graham Holdings (NYSE:GHC) declares $1.21/share quarterly dividend, in line with previous.
- Forward yield 0.97%
- Payable May 10; for shareholders of record April 15; ex-div April 13.
Thu, Jan. 21, 10:44 AM
- Graham Holdings (NYSE:GHC) declares $1.21/share quarterly dividend, 5.2% increase from prior dividend of $1.15.
- Forward yield 1.05%
- Payable Feb. 16; for shareholders of record Feb. 2; ex-div Jan. 29.
Dec. 22, 2015, 3:23 PM
- With approval of shareholders, Kaplan (GHC +2%) has wrapped up its acquisition of SmartPros.
- The deal, for about $16.9M, was struck with the accounting education firm in October.
- SmartPros, which logged $13.5M in revenues last year, features a set of services and content including the Financial Management Network, CPA Report and Smart Pros Advantage accounting subscription products. It has a library of more than 2,800 hours of education programming, primarily in online form.
- Previously: Kaplan agrees to buy UK advanced-education specialist (Dec. 14 2015)
- Previously: Kaplan boosting accounting-education offerings by acquiring SmartPros (Oct. 22 2015)
Dec. 14, 2015, 3:21 PM
- Education firm Kaplan International (GHC -1.4%) has chalked up another acquisition, agreeing to buy UK-based Mander Portman Woodward from Levine Leichtman Capital Partners.
- The deal should close in early January and terms weren't disclosed. MPW is a specialist in so-called Sixth Form College, where students 16-19 study for advanced qualifications.
- Late last month, Kaplan had acquired vocational educator CleanEdison. It's the largest division at Graham Holdings, with 1.2M students served annually through higher ed, professional and vocational ed, and test and university preparation.
- Previously: Kaplan acquires energy vocational schooler CleanEdison (Nov. 30 2015)
Nov. 13, 2015, 4:54 PM
- Graham Holdings (NYSE:GHC) has acquired Group Dekko, a specialist in electrical components for workplace power and architectural lighting, as well as for the automotive, appliance and medical industries.
- Terms weren't disclosed. CEO John May and its existing management team will continue to run the 63-year-old Indiana company.
- Shares of Graham were up 1.3% after hours prior to the news.
- Previously: O'Shaughnessy succeeds 24-year CEO Graham at Graham Holdings (Nov. 12 2015)
Nov. 12, 2015, 9:43 AM
- Graham Holdings (NYSE:GHC) has named Timothy O'Shaughnessy -- who joined the company last year as president after leading LivingSocial -- as its president and CEO, effective immediately.
- O'Shaughnessy succeeds chief Donald Graham, son of Katherine Graham and a member of the family that has held longtime control at GHC, the former Washington Post Co. Donald Graham took over as CEO in 1991.
- Donald Graham, 70, will remain as chairman. O'Shaughnessy "has good ideas and he can execute," Graham says. "With the help of a remarkable board, the company is poised to take advantage of an unusual range of opportunities."
Nov. 4, 2015, 10:17 PM
- Graham Holdings (NYSE:GHC): Q3 EPS of $6.05
- Revenue of $641.43M (-8.8% Y/Y)
Oct. 22, 2015, 2:37 PM
- Education services company Kaplan (GHC -1.1%) is acquiring accounting-education specialists SmartPros (SPRO +29.9%), for about $16.9M.
- That comes to $3.57/share, or a 40% premium over SmartPros' closing price yesterday. SmartPros is currently trading at $3.52.
- The company -- which posted $13.5M in revenues for 2014 -- has a suite of services for continuing education in accounting. Kaplan's Dr. Andrew Temte says SmartPros offerings will provide a good domestic complement to the company's global accountancy programs.
- The deal should close by year-end with approval by SmartPros shareholders.
Sep. 10, 2015, 12:34 PM
- Graham Holdings (NYSE:GHC) declares $1.15/share quarterly dividend.
- Forward yield 0.74%
- Payable Nov. 6; for shareholders of record Oct. 19; ex-div Oct. 15.