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AP Photo/Doug McSchooler

Purdue University has agreed to acquire Kaplan University, the for-profit higher education business of Kaplan Inc., which is owned by Graham Holdings Co. The upfront cost is just a symbolic dollar, but Purdue would continue to operate Kaplan U's online programs and 15 physical campuses and learning centers (around 32k total students) for at least five years at a cost of $10 million per year. Then there are a bunch of additional reimbursement machinations, with Purdue saying no state funds will be used.

Why it matters: Public universities aren't usually on the M&A buy-side, let alone of large for-profit companies that they want to convert into nonprofits. This also has the potential to shakeup the flailing online education market.

Bottom line: "Like most large for-profits, Kaplan University has lost students and revenue in recent years. The sector faces rising competition from nonprofits and a stigma due to high-profile investigations and lawsuits over some companies' misleading of students." ― Paul Fain & Rick Seltzer

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The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after last week's deadly Capitol riot. Correa did not shelter in the designated safe zone with his congressional colleagues during the siege, per a spokesperson, instead staying outside to help Capitol Police.

Far-right figure "Baked Alaska" arrested for involvement in Capitol siege

Photo: Shay Horse/NurPhoto via Getty Images

The FBI arrested far-right media figure Tim Gionet, known as "Baked Alaska," on Saturday for his involvement in last week's Capitol riot, according to a statement of facts filed in the U.S. District Court in the District of Columbia.

The state of play: Gionet was arrested in Houston on charges related to disorderly or disruptive conduct on the Capitol grounds or in any of the Capitol buildings with the intent to impede, disrupt, or disturb the orderly conduct of a session, per AP.