The Wall Street Journal reported this morning on Washington Post Co. chairman Donald Graham’s recent hands-on approach to Kaplan, his money-making college test prep business (they issue degrees now, too). There was one line — sort of a timely reminder — halfway into the piece:
In the two most-recent fiscal years, Post Co.’s newspaper division lost a combined $356 million while Kaplan’s higher-education unit alone, which excludes the test-preparation business, posted an operating profit of nearly $450 million.
Increasingly short-staffed Newsweek is currently waiting around in the Washington Post Co. offices on Hudson Street, while they’re being readied for Kaplan. Make way for the money.