Andrew Beaujon
Feb. 22, 2013
8:56 am
The Washington Post Co. |
The Washington Post
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.
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Andrew Beaujon
Jan. 8, 2013
10:20 am
The Washington Post's polling operation will be spun off into an independent business, a press release this morning announces. "Capital Insight" will still conduct polling for The Washington Post, but it will also take on clients. Jon Cohen will lead Capital Insight.
The Washington Post Co. also owns a social media advertising agency, SocialCode, which
acquired Digg's old engineering team last May.
Press release below:
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Andrew Beaujon
Nov. 19, 2012
11:13 am
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Andrew Beaujon
Nov. 2, 2012
10:50 am
The Washington Post Company |
The Washington Post
Third quarter revenue at the Washington Post Company overall was flat compared to the same period last year, as broadcast television and cable businesses rose, but
circulation and ad revenue fell at its newspapers.
At the Post's newspaper division, print advertising revenue was down 11 percent over the third quarter of 2011. Revenue from the Post Co.'s online operations, which are part of the newspaper division, was up 13 percent over the same period in 2011, bringing in $26.9 million. Those operations include Slate and washingtonpost.com. But overall, the newspaper division lost $21.8 million in the third quarter, due in part to a large non-cash pension charge, including a $7.5 million charge for
buyouts.
The report did not include a figure for circulation revenue, but it did say average daily circulation in the first nine months of 2012 was down 9.2 percent and average Sunday circulation was down 6.2 percent over the same period in 2011. The latest Audit Bureau report released this week shows
daily circulation down 9 percent and Sunday circulation down about 20 percent, with an asterisk.
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Steve Myers
Dec. 6, 2011
8:33 am
The Gazette
The buyouts were mentioned at the bottom of a story announcing that Chuck Lyons is moving from CEO to chairman of Post-Newsweek Media, the business division that includes The Gazette: "In an unrelated development, Gazette executives announced Monday that because of the sluggish economy and highly competitive environment, they are implementing a voluntary buyout program with incentive packages for editorial and creative services employees who have at least 18 years of employment with the company." The Gazette newspapers are published in Montgomery, Frederick and Prince George's counties.
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Mark Fitzgerald
Nov. 4, 2011
10:25 am
The Washington Post Co.
The Washington Post Co. swung to a loss in the third-quarter as advertising revenue fell for the fourth consecutive period and its one-time cash cow, the Kaplan education unit, reported a steep drop in profits.
Newspaper publishing division revenue declined 9 percent in the quarter to $149.3 million, pushed by a 20 percent decline in print advertising revenue at the flagship Washington Post. The company said its declines were largely due to drops in classified, zoned and general advertising.
Digital dimes are not making up for the print loss in the newspaper division’s online unit, which include the Post Website and Slate. Newspaper online revenue dropped 14 percent in the quarter to $23.3 million. Display online ad revenue plunged 17 percent and online classified dipped 5 percent.
Overall, the Post Co. recorded a third-quarter loss of $6.2 million, or 82 cents a share. That contrasts with a third-quarter 2010 profit of $60.9 million or $6.48 a share.
Wall Street analysts had been expecting the Post Co. to report another profit this quarter, with the average estimate being a profit of $3.85 per share,
according to Wall Street Cheat Sheet. Expect to see the stock (NYSE: WPO) fall on its opening Friday morning.
The Post Co. did exceed analysts expectations on company-wide revenue, which declined 13 percent to $1.03 billion. Wall Street’s expectation had been for a steeper decline of 16 percent to $1 billion.
The Washington Post Co.’s biggest problem these days isn’t the sluggish performance of newspaper advertising, an industry-wide problem – it’s the sudden change in fortunes at its Kaplan education unit.
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