From Wiley’s press release announcing the sale of its online-program business to a one-time rival:
Academic Partnerships (AP), a company that assists primarily regional public universities in expanding access and impact by supporting their online programs, today announced that it has successfully completed its acquisition of Wiley University Services, a line of business previously owned by Wiley (NYSE: WLY). The combined company will support over 125 colleges and universities in 40 U.S. states and internationally.
Two items of note: first, the phrase “online program manager,” and its OPM shorthand, are absent from the release. Given the woes of the sector, with its vampiric business model under strain, the OPM sheen has plainly worn off. That the buyer, Academic Partnerships, is in private-equity hands isn’t a good sign, either.
The other interesting takeaway is about Wiley itself: The company is shedding assets in the wake of its disastrous Hindawi purchase.