Parent Company of University of Phoenix Could Be Sold to Owner of McGraw-Hill Education

Apollo Education Group, parent company of the University of Phoenix as well as Apollo Global, is in “advanced talks” to be purchased by Apollo Global Management, owner of McGraw-Hill Education and of Cengage debt. Got that?

To clarify, the Apollo Education Group is the parent company of the University of Phoenix, and they have a subsidiary called Apollo Global, which is a joint venture with the Carlyle Group, another private equity firm. While the confusion is understandable, Apollo Global Management previously shared nothing in common with the Apollo Education Group other than their admiration for the choir-directing sun-god.