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Online Learning News and Research
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Thursday, February 21, 2002
http://chronicle.com/free/2002/02/2002022101u.htm Sylvan Learning Acquires a Controlling Interest in Walden U. for $8-Million MICHAEL ARNONE Sylvan Learning Systems Inc. has acquired a controlling interest in Walden University, an online provider of graduate degrees. Sylvan paid $8-million to increase its stake in the institution to 51 percent. The takeover was planned for more than a year, said Robert H. Scales Jr., chief executive officer at Walden. Sylvan bought 41 percent of Walden's ownership shares last year. The two for-profit education companies agreed that if Sylvan were pleased with its relationship with Walden, Sylvan would acquire an additional 10 percent this year, Mr. Scales said. The new ownership arrangement took effect February 1....
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