Part of Wash Post unit in routine review by DoE
NEW YORK (Reuters) - Washington Post Co said in a regulatory filing last week that the Department of Education in September began a "program review" of part of its education unit. The news was earlier reported by Barron's publication.
A spokeswoman for Kaplan said that program reviews are conducted routinely by the Department of Education.
"We have no indication that specific concerns prompted this review, and any suggestion otherwise would be misleading," she said in an email.
In the filing with the Securities and Exchange Commission last week, the company said that in September 2009, the Department of Education began a "Program Review" of Kaplan University at its offices in Fort Lauderdale, FL.
Kaplan University is a part of Kaplan Higher Education Corp which is a part of Kaplan, Inc, a subsidiary of The Washington Post Co, according to Kaplan's website.
"Kaplan University is continuing to respond to all requests for information and is cooperating fully in the review," the filing said.
"The reviewers completed their field work, are reviewing documentation already submitted and are gathering additional documentation," the filing said.
Washington Post said in February that revenue in its education unit, which includes the Kaplan test preparation business, rose 16 percent to $709.3 million.
