92 added · 96 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.
Newly disclosed
One aspect of the rule, which prohibited a single broadcaster from owning (or having an attributable interest in) two full-power television stations licensed in the same Nielsen DMA if both were ranked among the top four stations in the market (the two top four restriction), was eliminated in July 2025 following litigation challenging the FCC’s 2018 quadrennial review order.
Additionally, CSI supports the communities and patient populations they serve through strategic partnerships with patient support organizations and foundations. 20 FORWARD-LOOKING STATEMENTS All public statements made by the Company and its representatives that are not statements of historical fact, including certain statements in the Company’s Annual Report on Form 10-K and in the Company’s 2025 Annual Report to Stockholders, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
Cardona lawsuit in the Northern District of California which was settled in November 2022, Plaintiffs claimed that the ED failed to properly consider and decide pending BDTR claims.
Unless the FCC enacts rules (or Congress enacts legislation) that classify vMVPDs as MVPDs or otherwise apply the retransmission consent rules to vMVPDs, GMG may be unable to negotiate carriage agreements with these distribution services that include the payment of market-based retransmission fees or provide other favorable terms with respect to, for example, carriage of the stations’ signals in specific tiers or genre packages offered by the vMVPD.
Furthermore, in Australia, while union membership is generally not disclosed to employers, Kaplan is aware that some employees are union members where unions act as their representatives in matters such as bargaining or disputes, and Kaplan engages with those unions to the extent legally required (including bargaining with unions as default bargaining representatives for their members).
Risks Related to the Company’s Stock Ownership and Operations • As a Controlled Company, the Rights of Class B Common Stockholders Are Limited. • Failure to Comply with Environmental and Health and Safety Laws. • Failure to Successfully Integrate Acquired Businesses. • Goodwill and Other Intangible Assets Impairment. • Introduction of Additional Tariffs.
Risks Related to Cybersecurity, Privacy, Artificial Intelligence and Intellectual Property • System Disruptions and Security Threats to the Company’s Information Technology Infrastructure or Those of Third Parties. • Failure to Comply with Privacy Laws or Regulations. • Artificial Intelligence Concerns. • Potential Liability for Intellectual Pro
In a notice released in October 2025, the FCC proposed to eliminate both the simulcasting and the “substantially similar” requirements for stations transitioning to or broadcasting in ATSC 3.0, and to make other updates to the current ATSC 3.0 rules.
On July 15, 2025, Hoover acquired Arconic Architectural Products, LLC (operating as Hoover Architectural Solutions) which manufactures aluminum cladding products and operates within the broader non-residential materials space from its facility in Eastman, GA.
GMG has approximately 885 employees, including 866 full-time employees and 19 part-time employees, of whom approximately 106 are represented by a union. 18 Among our healthcare companies, GHG has approximately 2,523 full-time employees and 556 part-time employees.
In 2024, KNA began exam development for state bar examinations by entering into a contract with the State Bar of California to prepare questions for its exam.
In March 2025, the FCC issued a public notice commencing a proceeding in which the FCC seeks to modify or eliminate outdated and burdensome regulations.
No longer disclosed
The 2022 quadrennial review, which the FCC initiated in December 2022, is pending. 11 It remains to be seen whether and how the pending litigation challenging the FCC’s 2023 Order might affect the FCC’s action in the 2022 quadrennial review proceeding.
FORWARD-LOOKING STATEMENTS All public statements made by the Company and its representatives that are not statements of historical fact, including certain statements in the Company’s Annual Report on Form 10-K and in the Company’s 2024 Annual Report to Stockholders, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995.
For example, at GMG, employees have access to several development and training programs, including Boss School, a management training session, PROduce! for high potential producers to enhance their innovative mindset and leadership skills, and access to several other resources that provide individual learning and group activities on a variety of leadership and workplace collaboration topics.
In November 2022, the Northern District of California approved the settlement agreement in the lawsuit Sweet v.
After acquiring Kaplan University, on August 3, 2018, Purdue Global received an updated Provisional Program Participation Agreement (PPPA) from the ED which is necessary for continued participation in the federal Title IV programs after the change in ownership from Kaplan to Purdue.
In May 2021, Kaplan received notice from the ED that it would be conducting a fact-finding process pursuant to the BDTR regulations to determine the validity of BDTR claims and a request for documents related to several of Kaplan’s previously owned schools.
The 2023 Order largely retains the current local television ownership rule without significant substantive change, with one exception: going forward, the rule generally will prohibit a broadcaster from acquiring a second (or additional) top-four network affiliation and placing it on a station’s multicast stream or on a commonly owned low power television station in the same market.
As part of the settlement, the ED agreed to discharge loans of borrowers who attended 150 specific schools, including all schools formerly owned by Kaplan, and who had BDTR claims pending as of the June 22, 2022 settlement execution date.
The 2023 Order exempts from this restriction ownership of two or more top-four network affiliations resulting from organic growth of a station’s market share or from a network’s choice to move an affiliation between stations in a market.
GMG’s ability to enter into certain transactions in the future may be affected by resolution of the legal challenge to the ownership rules articulated in the 2023 Order and/or by the resolution of the 2022 quadrennial review proceeding.
Kaplan responded to the initial set of claims in 2021 with documentary and narrative evidence to refute the allegations, demonstrate their lack of merit, 7 and support the denial of all such claims by the ED.
In 2024, GMG continued with its organizational culture improvement program called Up Your Culture, providing all people leaders with monthly workshops and coaching sessions to effectively lead their teams.