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Graham Holdings Company (NYSE: GHC) unit to sell Dublin Business School for $127.5M

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(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Graham Holdings Company, through its subsidiary Kaplan, Inc., reported that Kaplan International UK Holdings Limited has entered into a Share Purchase Agreement to sell Dublin Business School to China Chunlai Education Group Co., Ltd.. The agreement covers all outstanding shares of Accountancy & Business College (Ireland) Limited, which operates Dublin Business School, plus certain intellectual property, for $127.5 million, subject to possible deductions.

Completion of the transaction is subject to the satisfaction of agreed completion conditions. A related press release notes that China Chunlai values the acquisition at US$127,500,000 and describes Dublin Business School as Ireland’s leading independent third-level institution serving approximately 9,000 students annually.

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Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
DBS sale price $127.5 million Consideration for all shares of Accountancy & Business College (Ireland) Limited plus certain IP
DBS acquisition value US$127,500,000 Value of the acquisition stated in China Chunlai’s announcement
China Chunlai enrolment 116,784 students Total enrolment across China Chunlai colleges as of 28 February 2026
China Chunlai revenue RMB956.3 million Revenue for the six-month period ended 28 February 2026
DBS annual students 9,000 students Approximate number of students served by Dublin Business School each year
Kaplan students and professionals 1.2 million Students and professionals served annually by Kaplan worldwide
Kaplan corporate clients 16,000 Corporate clients served by Kaplan
Kaplan partner institutions 2,700 Schools, districts, colleges, and universities served by Kaplan
Share Purchase Agreement regulatory
"Under the terms of the <b>Share Purchase Agreement</b>, Kaplan International UK Holdings Limited"
A share purchase agreement is a written contract that outlines the terms and conditions for buying and selling shares of a company. It specifies details like the price, number of shares, and any special conditions, ensuring both buyer and seller agree on the transaction. For investors, it provides clarity and legal protection, making sure the purchase is clear and enforceable.
completion conditions regulatory
"Completion of the transaction is subject to the satisfaction of <b>completion conditions</b>."
private higher education financial
"China Chunlai Education Group Co., Ltd., a provider of <b>private higher education</b> in China."
application-oriented talent training technical
"The Colleges are well-known for focusing on the goal of <b>application-oriented talent training</b>."
industry-education integration technical
"with a strong emphasis on <b>industry-education integration</b> and school-enterprise collaboration."
Collaboration between businesses, colleges, vocational schools, and training providers to align curricula, research, and workforce skills with industry needs. It matters to investors because it shapes the future supply of trained workers, the pace of innovation, and potential costs for recruitment and training—similar to a company working with mechanics’ schools so new hires arrive already familiar with the tools and methods used on the job, which can influence productivity and long-term competitiveness.
school-enterprise collaboration technical
"emphasis on industry-education integration and <b>school-enterprise collaboration</b>."

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What transaction involving Dublin Business School did Graham Holdings (GHC) disclose?
Graham Holdings, via Kaplan, disclosed an agreement for Kaplan International UK Holdings Limited to sell Dublin Business School to China Chunlai Education Group, including all shares and certain intellectual property, under a Share Purchase Agreement.

What is the agreed sale price for Dublin Business School in the GHC filing?
The agreed value for the acquisition of Dublin Business School is $127.5 million (US$127,500,000). The price applies to all outstanding shares of the DBS operating company and certain intellectual property, subject to possible deductions and completion conditions.

Who is buying Dublin Business School from Kaplan, a subsidiary of Graham Holdings (GHC)?
China Chunlai Education Group Co., Ltd., a leading private higher education group in China, has agreed to acquire Dublin Business School from Kaplan. China Chunlai operates multiple colleges in China and is listed on the Hong Kong Stock Exchange.

What conditions apply to the Dublin Business School sale disclosed by GHC?
The sale of Dublin Business School is stated to be subject to the satisfaction of agreed completion conditions. The transaction is expected to complete once these conditions are met, and the final consideration may be reduced by possible deductions.

How large is China Chunlai, the buyer in Graham Holdings’ (GHC) DBS transaction?
China Chunlai reported total enrolment of 116,784 students and revenue of RMB956.3 million for the six-month period ended 28 February 2026. It operates seven colleges across Henan, Hubei, and Jiangsu provinces in China.

How is Kaplan, the Graham Holdings (GHC) subsidiary selling DBS, characterized?
Kaplan is described as a global education company serving about 1.2 million students and professionals, 16,000 corporate clients, and 2,700 schools and universities worldwide. It is a subsidiary of Graham Holdings Company.
FALSE000010488900001048892026-08-052026-08-05

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 5, 2026
GRAHAM HOLDINGS COMPANY
(Exact name of registrant as specified in its charter) 
Delaware
001-06714
53-0182885
(State or other jurisdiction of
incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)
1812 North Moore Street, Arlington, Virginia
22209
(Address of principal executive offices)
(Zip Code)
(703) 345-6300
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading symbol
Name of each exchange on which registered
Class B Common Stock, par value $1.00 per share
GHC
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
 

Item 8.01 Other Events.
Kaplan, Inc. announced today that it has entered into an agreement to sell Dublin Business School to China Chunlai Education Group Co., Ltd., a provider of private higher education in China. Under the terms of the Share Purchase Agreement, Kaplan International UK Holdings Limited will sell all of the outstanding shares of Accountancy & Business College (Ireland) Limited, which operates Dublin Business School, together with certain intellectual property for $127.5 million, subject to possible deductions. Completion of the transaction is subject to the satisfaction of completion conditions.
Item 9.01 Financial Statements and Exhibits.
Exhibit 99.1 Kaplan, Inc. Press Release Dated August 5, 2026.

2
Exhibit Index  

Exhibit 99.1
Kaplan, Inc. Press Release Dated August 5, 2026.
Exhibit 104
Cover Page Interactive Data File, formatted in Inline XBRL and included as Exhibit 101.


3
SIGNATURE
 
 
 
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
Graham Holdings Company
(Registrant)
Date: August 5, 2026
/s/ Wallace R. Cooney
Wallace R. Cooney,
Chief Financial Officer
(Principal Financial Officer)


 
 

4

Exhibit 99.1
China Chunlai Education Group to acquire Dublin Business School from Kaplan
August 5, 2026 – China Chunlai Education Group Co., Ltd. (China Chunlai), a leading private higher education group in China, has agreed to acquire Dublin Business School (DBS), Ireland’s leading independent third-level higher education institution, from Kaplan, the global education company.
China Chunlai today filed the Transaction Announcement with the Hong Kong Exchanges and Clearing Limited (HKEX). The value of the acquisition is US$127,500,000.
The transaction remains subject to the satisfaction of the agreed completion conditions, and is expected to complete once these are met.
Junyu Hou, Executive Director, China Chunlai, said:
“DBS represents an important long-term investment for China Chunlai – a platform for future growth, innovation and international collaboration. This acquisition reflects our recognition of DBS’s strong reputation, academic quality, and long history of successfully delivering career-focused education.”
Andy Rosen, Chief Executive Officer, Kaplan, Inc. said:
“China Chunlai is a leading provider of private higher education with deep experience supporting students and institutions through periods of growth. We believe they will be a strong long-term steward for DBS, one that will build on its outstanding reputation and academic quality. This is a positive step for DBS's students and staff, for China Chunlai, and for Kaplan and our shareholders."
Tim Bicknell, President, DBS, said: “Kaplan has built DBS into a global institution, known for its high academic standards and supportive student-focused culture. We're excited about this next chapter alongside China Chunlai. Together, we will build on these strong foundations, enhancing academic excellence and creating even greater opportunities for our students, staff and wider academic community through the outstanding experience they have come to expect from DBS.”
About China Chunlai
China Chunlai Education Group Co., Ltd. (Stock Code: 1969.HK, together with its subsidiaries and consolidated affiliated entities, collectively the "Group") is a leading provider of private higher education in China. In September 2018, China Chunlai was listed on the Main Board of the Hong Kong Stock Exchange. Since its establishment in 2004, driven by robust growth in student enrollment and rising demand for higher education, the Group has grown to operate four colleges in Henan Province, two colleges in Hubei Province, and one college in Jiangsu Province. The Colleges are all nationwide well-known for focusing on the goal of application-oriented talent training, with a strong emphasis on industry-education integration and school-enterprise collaboration.
As of the latest reporting period-end (28 February 2026), total enrolment across its colleges reached 116,784 students, and the Group posted revenue of RMB956.3 million for the six-month period. It successfully maintained multiple-digit growth for the last eight fiscal years, reflecting robust financial and operational performance. Learn more at https://www.chunlaiedu.com/.
About Kaplan
DBS is part of Kaplan, a global education company that helps individuals and institutions advance their goals in an ever-changing world. The broad portfolio of solutions helps students and professionals further their education and careers, universities and educational institutions attract and support students, and businesses maximize employee recruitment, retention, and development. Stanley Kaplan founded the company in 1938 with a mission to expand educational opportunities for students of all backgrounds. Today, Kaplan has thousands of employees working in 40 countries/regions, continuing Stanley’s mission as they serve about 1.2 million students and professionals, 16,000 corporate clients, and 2,700 schools, school districts, colleges, and universities worldwide. Kaplan is a subsidiary of Graham Holdings Company (NYSE: GHC). Learn more at kaplan.com.


About Dublin Business School
Dublin Business School (DBS) is Ireland’s leading independent third-level institution, serving approximately 9,000 students every year. Located in the heart of Dublin with city centre campuses, DBS provides a comprehensive range of full and part time Undergraduate, Postgraduate, Evening Degree, Professional Diploma, Professional Accountancy and Executive Education programmes. Established in 1975, DBS fosters an inclusive learning environment that supports personal, academic, and professional development through innovative teaching, strong employer engagement, and a commitment to student success.
Over the last 51 years, DBS has created a unique learning environment with a diverse student body from over 80 countries, and has established partnerships with over 100 International Colleges and Universities in Europe, the US and Asia. DBS offers programmes in a wide range of subject areas including Business, Management, Leadership, Law, Accounting, Finance, Marketing, Digital Marketing, Sustainability, Computing and Psychology.

Contact details for press release:
China Chunlai
Celia Bu, IR@chunlaiedu.com
Kaplan:
Elizabeth Hess, elizabeth.hess@kaplan.com
DBS:
Tim Kinsella, tim@mkc.ie

Source: View Original Filing on SEC EDGAR

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