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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Democrats sound alarm on mail-in votes

Photo: Mark Makela/Getty Images

Democrats are calling a last-minute audible on mail-in voting after last night's Supreme Court ruling on Wisconsin.

Driving the news: Wisconsin Democrats and the Democratic secretary of state of Michigan are urging voters to return absentee ballots to election clerks’ offices or drop boxes. They are warning that the USPS may not be able to deliver ballots by the Election Day deadline.

Nxivm cult leader Keith Raniere sentenced to life in prison

Carts full of court documents related to the U.S. v. Keith Raniere case arrive at the U.S. District Court for the Eastern District of New York in May 2019. Photo: Drew Angerer/Getty Images

Nxivm cult leader Keith Raniere, 60, was sentenced to 120 years in prison on Tuesday in federal court for sex trafficking among other crimes, the New York Times reports.

Catch up quick: Raniere was convicted last summer with sex trafficking, conspiracy, sexual exploitation of a child, racketeering, forced labor and possession of child pornography. His so-called self-improvement workshops, which disguised rampant sexual abuse, were popular among Hollywood and business circles.

Erica Pandey, author of @Work
1 hour ago - Economy & Business

Americans are moving again

Illustration: Aïda Amer/Axios

For decades, the share of Americans moving to new cities has been falling. The pandemic-induced rise of telework is turning that trend around.

Why it matters: This dispersion of people from big metros to smaller ones and from the coasts to the middle of the country could be a boon for dozens of left-behind cities across the U.S.