This paper proposes a governance model framework for online learning marketplaces in Indonesia. This research uses a case study approach to explore a model that is adequate and suitable to be applied in the context of the Indonesia Cyber Education Institute, which was initiated by Universitas Terbuka, Indonesia. The proposed model was prepared after conducting a literature study, which was validated by expert and stakeholder opinions in a forum group discussion. The study results showed that participants agreed that the consortium should carry out organizational operations based on the principles of transparency, accountability, ethics, sustainability, and fairness. The five basic principles of proposed governance serve as guidelines for governing: (i) organizational governance (structure), (ii) processes and outputs produced by the organization, and (iii) beneficiaries from the implementation of organizational governance. This study contributes to distance learning education to promote governance practices and support a high-quality distance learning education for society.