Revenue at the Washington Post Co.'s newspaper operations was down 7 percent over 2011, the company said in a release of its fourth-quarter and year-end earnings Friday. Revenue from print advertising was down 12 percent in the fourth quarter and 14 percent for the year. Online revenue was up, with a 6 percent increase in online display ad revenue over 2011. Daily circulation went down nearly 9 percent over the previous year, and Sunday circulation was down about 6 percent: "average daily circulation at The Washington Post totaled 471,800 and average Sunday circulation totaled 687,200," the release said. The release does not break out circulation revenue.
The Post's newspaper division had an operating loss of "$53.7 million in 2012, compared to an operating loss of $21.2 million in 2011," the release said.
The company's education division, which was hit hard by a federal investigation into for-profit colleges such as the ones in its Kaplan division, had a 6 percent decline in revenue in the fourth quarter and a 10 percent loss over 2011. Revenue at the Post Co.'s cable TV division was up 4 percent over 2011. (more...)