Graham Holdings Company (NYSE:GHC) said today that it anticipates a cash distribution as a result of an agreement by Classified Ventures, LLC (CV) to sell Apartments.com for $585 million to CoStar Group, Inc. CV expects the transaction to close in the second quarter of 2014.
Graham Holdings owns a 16.5% interest in CV. The Company expects to receive about $95 million at closing.
About Graham Holdings Company ( www.ghco.com)
Graham Holdings Company (NYSE:GHC) is a diversified education and media company whose principal operations include educational services, television broadcasting, cable television systems and online, print and local TV news. The Company owns Kaplan, a leading global provider of educational services; Post–Newsweek Stations (WDIV–Detroit, KPRC–Houston, WPLG–Miami, WKMG–Orlando, KSAT–San Antonio, WJXT–Jacksonville); Cable ONE, serving small-city subscribers in 19 midwestern, western and southern states; and The Slate Group (Slate, Slate V, TheRoot, Foreign Policy). The Company also owns Trove, a digital team focused on innovation and experimentation with emerging technologies; SocialCode, a leading social marketing solutions company; Celtic Healthcare; and Forney Corporation.