The Washington Post Co. has spent $350,000 in the last quarter lobbying on Capitol Hill in defense of its for-profit subsidiary Kaplan University, while at the same time editorializing in defense of the school in the pages of its newspaper, the New York Times reported on Wednesday.
The Times reported that the lawsuits and a congressional probe of for-profit colleges including Kaplan, which operates an online university and 75 colleges, have been followed by a recent drop in Washington Post stock by more than one quarter.
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