Graham Holdings Co has a significant shareholder group led by Madison Avenue International LP, together with related entities and Eli Samaha. As of June 30, 2026, this group beneficially owned 246,368 shares of Class B Common Stock.
Based on 3,270,927 Class B shares outstanding as of July 24, 2026, the reporting group may be deemed to own about 7.5% of the class. Voting and dispositive authority over these shares is reported on a shared basis among the related investment entities and Eli Samaha.
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.
Graham Holdings Company reported second-quarter 2026 revenue of $1,302.5 million, up 7% from 2025, with growth in television broadcasting, healthcare, manufacturing, automotive and other businesses, partly offset by lower education revenue. Operating income rose to $83.6 million, and adjusted operating cash flow (non-GAAP) increased to $119.8 million.
Net income attributable to common shares was $281.1 million ($64.86 diluted EPS) versus $36.7 million ($8.35) a year earlier, driven by a $137.0 million non-cash pension settlement gain and $101.9 million gains on marketable equity securities, alongside a $19.0 million impairment and $5.2 million loss on the sale of Kaplan Languages Group. Adjusted net income excluding specified items was $84.2 million ($19.46 per share) versus $63.1 million ($14.33).
For the first six months of 2026, revenue reached $2,538.5 million and net income attributable to common shares was $310.2 million ($71.04 per share); adjusted net income was $158.1 million ($36.19). Borrowings totaled $900.4 million at a 5.7% average rate, the company held $1,297.4 million of cash, marketable equity securities and other investments, and it repurchased 110,471 Class B shares for $122.0 million, leaving 4,251,268 shares outstanding.
Graham Holdings Company reported sharply higher profitability for the quarter ended June 30, 2026. Operating revenues were $1.30 billion, up from $1.22 billion, and income from operations rose to $83.6 million from $72.8 million. Net income attributable to common stockholders jumped to $281.1 million, with diluted EPS of $64.86 versus $8.35 a year earlier.
Non‑operating items were pivotal: non‑operating pension and postretirement income was $169.6 million, including a $137.0 million pension settlement gain, and gains on marketable equity securities were $101.9 million. Offsetting factors included $19.0 million of Kaplan Languages Group (KLG)‑related impairments, a $5.2 million loss on that sale and a $19.2 million Pillar Two top‑up tax accrual. For the first six months, operating cash flow was $120.4 million; the company returned cash through share repurchases and dividends and ended June with $156.8 million in cash and $900.4 million of total debt on $8.14 billion of assets.
Graham Holdings Co director G. Richard Wagoner Jr. received additional stock compensation through a board fee program. A revocable trust associated with him acquired 21 shares of Class B Common Stock on July 1 at $1,161.11 per share, in lieu of cash director fees. Following this grant, the trust holds 1,554 shares indirectly.
Graham Holdings Co director Anne M. Mulcahy reported receiving 21 shares of Class B Common Stock on July 1, 2026. The shares were acquired at a price of $1,161.11 per share through a grant under the Director Share Purchase Program, where she elected to receive director fees in stock instead of cash. After this compensation-related award, an associated revocable trust held 758 shares of Class B Common Stock indirectly.
Graham Holdings Co director Jack A. Markell reported receiving 7 shares of Class B Common Stock at $1,161.11 per share. The shares were acquired indirectly through a Revocable Trust under a Director Share Purchase Program, where he elected to take director fees in stock instead of cash, bringing the trust’s holdings to 48 shares.
Graham Holdings Co director Christopher C. Davis acquired 23 shares of Class B Common Stock through a compensation-related grant. The shares were valued at $1,161.11 each and were received under a Director Share Purchase Program, where he elected to take part of his board fees in stock instead of cash.
After this award, Davis directly holds 5,614 shares of Graham Holdings Class B Common Stock. This Form 4 reflects a routine director fee election rather than an open-market stock purchase or sale.
Graham Holdings Co director Danielle Y. Conley reported an acquisition of Class B Common Stock through a compensation-related program. On July 1, 2026, a revocable trust associated with her received 19 shares at a reference price of $1,161.11 per share.
The footnote explains these shares were acquired under the Director Share Purchase Program, where a portion of director fees is taken in stock instead of cash. After this award, the revocable trust held 461 Class B shares in total, categorized as indirect ownership.
Graham Holdings Co insider filings show that entities associated with ten percent owner Laura O'Shaughnessy restructured their holdings in the company’s dual-class shares. The transactions center on exchanging Class B Common Stock for an equivalent number of Class A shares, with no cash changing hands.
A trust associated with O'Shaughnessy disposed of 5,600 shares of Class B Common Stock in an exchange for 6,000 shares of Class A Common Stock that are directly held and are convertible into 6,000 shares of Class B Common Stock on a one-for-one basis. After these transactions, she reports 27,076 shares of Class B Common Stock held directly and 11,500 shares of Class A Common Stock directly, while small indirect Class B positions are held through a spouse and a trust for which she disclaims beneficial ownership and lacks voting or investment power.