Washington Post Co. Sells Newspaper and Keeps Kaplan
Kaplan Inc., now makes up a larger portion of the Washington Post Company, which Monday announced the sale of The Washington Post for $250 million to Jeff Bezos, the founder and CEO of Amazon.com. Kaplan -- which includes Kaplan University, a test preparation division and other affiliates -- brought in $548 million of the Washington Post Company's $1 billion in revenue for the second quarter of this year, according to a corporate filing. While Kaplan's revenue was down slightly compared to last year, its operating revenue improved. Revenue for the newspaper division, which has been battered by circulation declines, was $138 million for the quarter. Its operating loss for the first six months of 2013 was $49 million.