ARLINGTON, Va.--(BUSINESS WIRE)--Oct. 1, 2014--
Graham Holdings Company (NYSE: GHC) announced today that it has named
Timothy O’Shaughnessy, co-founder and former CEO of LivingSocial, as its
president. A well-known Washington entrepreneur, O’Shaughnessy stepped
down as chief executive officer in August 2014 from LivingSocial, a
company he and three others founded in 2007. During O’Shaughnessy’s
tenure, the e-commerce and marketing company grew to sales of nearly $2
billion.
O’Shaughnessy joins Graham Holdings to oversee investments and
acquisitions, and to help set a new direction for the Company, which for
many years was best known for running The Washington Post. “Tim will be
central to the future of our Company,” said Donald E. Graham, chairman
and chief executive officer of Graham Holdings. “We are lucky to have
him join us.”
O’Shaughnessy said: “I’m excited to be joining Graham Holdings. This
Company, since 1933, has been a difference maker in many people’s lives.
It’s rich in assets, but in a different way than most people realize.
Its brand and its importance in the community, its treatment of
employees, shareholders and customers have all been something people
have been able to look at with admiration and strive towards for
decades. I think the structure of the business is unique and allows for
a long-term view at a time in which it’s more and more difficult to
think five or ten years out. The financial fortress that is this
business—the healthy balance sheet and the great businesses will allow
us to invest and grow new great businesses are incredibly stable and
will give an opportunity for the management team and everyone involved
to build the next generation of this Company.”
A native of Minnesota and the youngest of four children, O’Shaughnessy,
32, graduated from Georgetown University in 2004 and joined AOL as a
product manager. In 2006, he moved to Revolution Health, where he rose
to be vice president of product development. During that time, he and
three others initially developed a successful series of apps for
Facebook. That company grew into LivingSocial, where O’Shaughnessy was
CEO for seven years.
O’Shaughnessy is married to Laura Graham O’Shaughnessy, a daughter of
Donald Graham. Ms. O’Shaughnessy is CEO of SocialCode, a social
marketing technology company, wholly owned by Graham Holdings. The
O’Shaughnessys live in Washington, DC, and have two young children.
Mr. O’Shaughnessy will join Graham Holdings on November 3, 2014.
About Graham Holdings Company (www.ghco.com)
Graham Holdings Company (NYSE: GHC) is a diversified education and media
company whose principal operations include educational services,
television broadcasting, cable systems and online, print and local TV
news. The Company owns Kaplan, a leading global provider of educational
services; Graham Media Group (WDIV–Detroit, KPRC–Houston, WKMG–Orlando,
KSAT–San Antonio, WJXT–Jacksonville); Cable ONE, serving small-city
subscribers in 19 midwestern, western and southern states; The Slate
Group (Slate, Slate V, TheRoot); and Foreign Policy. The Company also
owns Trove, a digital team focused on innovation and experimentation
with emerging technologies; SocialCode, a leading social marketing
solutions company; Celtic Healthcare; Forney Corporation; Joyce/Dayton
Corp; and Residential Healthcare Group.
Source: Graham Holdings Company
Graham Holdings Company
Rima Calderon, 703-345-6358
Rima.Calderon@ghco.com