Graham Holdings Suffers From Broadcast Woes
Graham Holdings (NYSE: GHC) has gone through some turmoil in recent years. The Kaplan education business has suffered from criticism of for-profit educational institutions in general, prompting the company to contribute many of its assets and operations to a new nonprofit. Yet it's easy to forget that Graham also runs other businesses, including television broadcast operations that have exposure to the general health of the media industry, as well as to conditions specific to the locations in which each station operates.
Coming into Wednesday's third-quarter financial report, Graham Holdings investors were focusing most of their attention on the Kaplan unit. As it turned out, the broadcast segment had a lot more news to digest and had a larger impact on the overall company's results. Let's take a closer look at how Graham Holdings did and what's ahead for the company.
Image source: Kaplan.
Source: Fool.com
