Here's a link to the Financial Times' report on Online learning and the Top 25 distance MBA programs. Financial Times DL Story Its so good to see my current school (Univ of Texas at Dallas) listed
Good question...I hadn't noticed Cardean. From what I could gather, they looked at a lot of different criteria..but another set of researchers might have come up with a completely different list of schools.
The linked article has an Adobe file listing the top DL MBA programs. The programs are ranked by the number of enrolled students. U of Phoenix is number one, with 40,000 students.