Graham Holdings

What Graham Holdings does

Graham Holdings Company (NYSE: GHC) is a publicly traded diversified holding company headquartered in Arlington, Virginia, operating through a decentralized structure of wholly-owned subsidiaries across education, healthcare, media, manufacturing, automotive, hospitality, and consumer internet. The company traces its origins to 1875 when the Graham family acquired The Washington Post; it was renamed Graham Holdings in 2013 after selling the Post to Jeff Bezos. Its principal operations include Kaplan, Inc. (educational services serving 1 million+ students annually across nearly 30 countries through ~1,000 institutional and 4,000 corporate partnerships), Graham Media Group (seven local television stations in Houston, Detroit, Orlando, San Antonio, Jacksonville, and Roanoke), Graham Healthcare Group (home health, hospice, palliative care, infusion pharmacy, and behavioral health serving 20,000+ patients daily), Graham Automotive Group (eight dealerships in D.C./Richmond), and a manufacturing portfolio (Hoover, Dekko, Joyce/Dayton, Forney) plus consumer brands including Framebridge, Saatchi Art, Society6, Slate, Foreign Policy, City Cast, Code3, and Decile.

The company generates revenue through a mix of subscription/recurring models (Kaplan tuition, healthcare reimbursement contracts, digital subscriptions), advertising (broadcast and digital media), transaction-based fees (automotive sales, restaurants, e-commerce), and hardware sales (manufactured products). Each business unit maintains independent operations, technology stacks, and pricing structures. Notable technology assets include Decile's AI-powered customer data platform with the Luma natural-language AI analyst, and Supporting Cast's white-label SaaS for podcast subscriptions. Graham Healthcare integrates multiple care modalities under a single platform with proprietary patient communication SaaS (Clarus).

In 2025, the company generated $4.91 billion in revenue, up 3% year-over-year, and posted Q1 2026 revenue of $1.24 billion (up 6%). It carries a $349.8 million net cash position, a $400 million revolving credit facility, and completed a $500 million senior notes issuance in November 2025 to fund portfolio moves. The stock trades at a $5.19 billion market capitalization with 93.16% institutional ownership and a nine-year track record of dividend increases. Active portfolio reshaping includes the pending divestiture of Kaplan Languages Group (closing May 2026) and the March 2026 acquisition of Covenant Home Health. A major regulatory exposure is the disclosed Kaplan data breach affecting up to 1.4 million individuals, which has triggered class-action litigation.

Name

Graham Holdings

Legal name

Graham Holdings Company

Website

https://ghco.com

Company type

Public

Founded year

1875

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Graham Holdings Company (NYSE: GHC) is a diversified holding company operating through subsidiaries in education (Kaplan, 1M+ students), television broadcasting (7 stations), home healthcare (20,000+ daily patients), manufacturing, automotive dealerships, restaurants, and consumer internet brands.

Ownership category

akta.pro rank

Product category

Diversified Education and Media Holdings

NAICS

Management of Companies and Enterprises (551), Offices of Other Holding Companies (551112)

SIC

Services-Management Services (8741)

akta.pro primary industry

Multi-Sector / Generalist Growth Equity (FSANACAO)

akta.pro secondary industry

Corporate Development & Strategic Partnerships Advisory (JVs, Alliances, Carve-outs) (BPAHAOAG)

Keywords

• Diversified education services
• Test preparation programs
• Home healthcare services
• Television broadcasting operations
• Consumer marketplace platforms

Headquarters

HQ city

Arlington

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Education Services (Kaplan): Kaplan provides educational services including test preparation, professional certification, language training, higher education degree programs, and university pathway programs. Serves one million-plus students annually across operations in nearly 30 countries.
2. Television Broadcasting (Graham Media Group): Seven local television stations delivering news, programming, and digital media content. Revenue derived from advertising, retransmission fees, and digital media services.
3. Healthcare Services (Graham Healthcare Group): Home health, hospice, and palliative care services through Residential Healthcare Group, AHN Healthcare@Home, Mary Free Bed at Home, CSI Pharmacy, and other subsidiaries. Also includes behavioral health services through Surpass.
4. Manufacturing: Manufacturing operations include Hoover (pressure-impregnated lumber and plywood), Dekko (electrical solutions), Joyce/Dayton (screw jacks and linear actuators), and Forney Corporation (burners and combustion controls).
5. Automotive: Eight automotive dealerships in Washington, D.C. and Richmond areas, including Lexus, Honda, Toyota, Ford, Kia, and Chrysler/Dodge/Jeep/Ram franchises. Revenue from vehicle sales and service.
6. Consumer Internet and Media: Framebridge (custom framing), Saatchi Art (online art gallery), Society6 (art marketplace), Slate (online magazine), Foreign Policy (publication), City Cast (podcast network), Supporting Cast (SaaS platform), and Code3 (marketing agency).
7. Hospitality (Clyde's Restaurant Group): 14 restaurants and entertainment venues in Washington, D.C. metropolitan area including Old Ebbitt Grill, The Hamilton, 1789 Restaurant, and multiple Clyde's locations.

Pricing tiers

Go-to-market motion5 records

Distribution channels6 records

Marketing channels7 records

Core offering

Graham Holdings Company (NYSE: GHC) is a diversified holding company whose principal operations include educational services (Kaplan), television broadcasting (Graham Media Group), healthcare services (Graham Healthcare Group), manufacturing (Hoover, Dekko, Joyce/Dayton, Forney), automotive dealerships, restaurants (Clyde's Restaurant Group), media and digital services (Slate, Foreign Policy, City Cast, Code3), and consumer internet businesses (Framebridge, Saatchi Art, Society6, Decile). The company invests in businesses with demonstrated earnings potential and strong management teams under a decentralized operating model with a long-term investment horizon.

Product overview

Graham Holdings Company is a diversified holding company operating through a decentralized structure where each division maintains its own identity and workplace culture. The company operates multiple distinct business segments including: (1) Education through Kaplan, Inc., a global provider of educational services including higher education, test preparation, language instruction, and professional training; (2) Television Broadcasting through Graham Media Group, owning seven local television stations; (3) Healthcare through Graham Healthcare Group, offering home health, hospice, and palliative care services, plus subsidiaries including CSI Pharmacy, Clarus, Surpass Behavioral Health, Impact Medical, and Skin Clique; (4) Manufacturing through Hoover Treated Wood Products, Group Dekko, Joyce/Dayton Corp., and Forney Corporation; (5) Automotive through Graham Automotive Group operating eight dealerships; (6) Restaurants through Clyde's Restaurant Group; and (7) Other Businesses including Framebridge, Saatchi Art, Society6, Code3, Slate, Foreign Policy, City Cast, Supporting Cast, and Decile (AI analytics).

Differentiator

Problem solved

Functional benefit

Brands

• Kaplan: Global educational services provider offering higher education, test preparation, language instruction, and professional training
• Graham Media Group
• Graham Healthcare Group
• Residential Home Health
• CSI Pharmacy
• Clarus
• Surpass Behavioral Health
• Clyde's Restaurant Group
• Framebridge
• Saatchi Art
• Society6
• Slate
• Foreign Policy
• Code3
• Decile
• City Cast
• Supporting Cast
• Hoover
• Dekko
• Joyce/Dayton
• Forney

Products and services

• Kaplan, Inc. Global educational services provider offering higher education, test preparation, language instruction, professional training, and university pathway programs. Partners with approximately 1,000 educational institutions and 4,000 corporations worldwide.
• Graham Media Group Television broadcasting company owning seven local television stations delivering news, programming, and digital media content through broadcast, cable, streaming, websites, mobile apps, and podcast platforms.
• Graham Healthcare Group Nationally recognized provider of home health, hospice, and palliative care services operating through Residential Healthcare Group, AHN Healthcare@Home, Mary Free Bed at Home, and other subsidiaries. Serves more than 20,000 patients daily.
• CSI Pharmacy Home infusion specialty pharmacy focused on delivering complex therapies for patients with chronic and rare conditions.
• Surpass Behavioral Health Provider of high-quality intensive, evidence-based behavioral therapy for children and young adults with autism spectrum disorder.
• Clarus SaaS-based solution provided in partnership with physician groups to improve patient communication and reduce reliance on call centers while reducing costs.
• Hoover Treated Wood Products Supplier of pressure-impregnated kiln-dried lumber and plywood products for fire-retardant and preservative applications, and manufacturer of composite materials, pre-painted heavy-gauge aluminum, and bonded sheets.
• Group Dekko Electrical solutions company focusing on innovative power-charging and data systems, industrial and commercial indoor lighting solutions, and manufacture of electrical components and assemblies for medical equipment, transportation, industrial, and appliance products.
• Joyce/Dayton Corp. Leading manufacturer of screw jacks, linear actuators, and related linear motion products, and lifting systems in North America.
• Forney Corporation Global supplier of burners, igniters, dampers, and controls for combustion processes in electric utility and industrial applications.
• Graham Automotive Group Owns eight automotive dealerships (Lexus of Rockville, Honda of Tysons Corner, Honda of Woodbridge, Kia of Bethesda, Ford of Manassas, Toyota of Woodbridge, Chrysler/Dodge/Jeep/Ram of Woodbridge, Toyota of Richmond) and Roda valet service in Washington, D.C. and Richmond areas.
• Clyde's Restaurant Group Owns and operates 14 restaurants and entertainment venues in the Washington, D.C. metropolitan area, including Old Ebbitt Grill, The Hamilton, 1789 Restaurant, Fitzgerald's, The Tombs, and six Clyde's locations.
• Framebridge Custom framing services company providing high-quality, affordable, and fast custom framing of artwork, pictures, and personal items directly to consumers through website, app, and retail locations.
• Saatchi Art Online art gallery offering a selection of paintings, drawings, sculpture, and photography, providing artists worldwide with a curated environment to exhibit and sell their work.
• Society6 Online art and design marketplace where independent artists market and sell original art and designs printed on a wide variety of products through made-to-order marketplaces.
• Code3 Performance marketing partner working at the intersection of media, creative, and commerce to help brands succeed on digital platforms.
• Slate Daily online magazine offering news, politics, technology, and culture commentary with humor and insight in thoughtful analyses of current events and political news.
• Foreign Policy Publication covering global politics, economics, and ideas, drawing on leading journalists, thinkers, and foreign policy practitioners for analysis and insight in print and online.
• City Cast Growing network of daily local news podcasts accompanied by email newsletters covering 13 U.S. cities including Chicago, Denver, Houston, Salt Lake, Pittsburgh, Las Vegas, Boise, Washington, D.C., Philadelphia, Portland, and Madison.
• Supporting Cast White-label SaaS platform enabling podcast networks and media companies to generate recurring revenue through paid subscriptions, and providing internal communications podcast platforms for companies.
• Decile AI-powered customer data and analytics software company that helps marketers extract value from proprietary first-party customer and sales data, featuring Luma AI analyst with instant audience generation capabilities.
• Skin Clique Concierge provider of aesthetics and wellness products and services delivering high-quality care through combination of in-home and virtual visits.
• Impact Medical Management services organization partnered with a New Jersey-based Allergy, Asthma, and Immunology practice serving pediatric and adult patients.

Quantifiable outcome

• Q1 2026 revenue of $1.24 billion, up 6% year-over-year
• +3 more outcomes

Named customers3 records

Segments6 records

Ideal customer profiles8 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability3 records

Feature1 record

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• IAC Inc. IAC is a holding company that builds and invests in internet brands across categories like media, travel, and marketplaces. GHC's consumer-internet cluster (Slate, Foreign Policy, Framebridge, Saatchi Art, Society6, Decile, City Cast, Supporting Cast) has a similar build-and-spin DNA.
• Markel Corporation: Markel combines insurance, reinsurance, and Markel Ventures—a portfolio of operating industrial and consumer companies. Markel's CEO Tom Gayner sits on GHC's board, and the operating-partner model is directly comparable to GHC's decentralized subsidiary structure.
• Berkshire Hathaway: Berkshire Hathaway is the prototypical diversified conglomerate with wholly-owned operating subsidiaries across insurance, industrials, transportation, and consumer. Like GHC, it emphasizes long-term holding, decentralized management, and disciplined capital allocation, making it the most direct structural comparable.
• Loews Corporation: Loews is a diversified holding company with operating businesses in insurance (CNA Financial), energy, hospitality, and packaging. Its mix of operating subs plus holding-company capital allocation mirrors GHC's structure across education, healthcare, media, and manufacturing.

Direct peers

• TEGNA Inc. TEGNA owns a large portfolio of local TV stations plus digital marketing services (Premion). Its broadcast footprint and digital ad business closely parallel Graham Media Group's seven-station operation and digital platforms.
• Amedisys Inc. Amedisys is one of the largest U.S. home health and hospice operators with a national footprint. Graham Healthcare Group's home health, hospice, and palliative care subsidiaries directly compete in the same post-acute care market.
• Stride Inc. Stride (formerly K12 Inc.) is a leading provider of online K-12 and career learning programs, partnering with school districts and families. Kaplan's higher-education and workforce-prep lines overlap meaningfully with Stride's online learning delivery model.
• Pearson plc: Pearson is a global education and publishing company offering assessment, credentials, and digital learning to institutions and individuals. It directly overlaps with Kaplan's higher education, professional certification, and English-language testing franchises.
• Lithia Motors: Lithia is one of the largest U.S. automotive dealership groups operating multiple OEMs across geographies. Graham Automotive Group's eight-store dealership cluster in DC and Richmond competes in the same fragmented but consolidating U.S. auto retail market.
• Houghton Mifflin Harcourt: HMH is a learning solutions company serving K-12, higher education, and professional markets with curriculum, assessment, and professional development. It competes with Kaplan's higher education and professional certification offerings in overlapping customer segments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/grahamholdings
• Facebookfacebook.com/grahamholdingscompany
• LinkedInlinkedin.com/company/graham-holdings-company

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Subsidiaries22 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A8 records

Investments19 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Graham Holdings