Kaplan had kept the Washington Post afloat for years. Now the education business too, that buoy, was severely wounded. Following the sting investigation, the number of new students enrolled in Kaplan colleges plummeted by nearly half, while revenues fell by more than three-quarters. In the span of four months, its stock price dropped by nearly one-fourth.
I hadn't realized that Kaplan's decline was a big motivator to selling the Post.
