Articles about "The Washington Post Co."


Publishing businesses contributed to revenue gain at former Washington Post company

Graham Holdings Company

Revenue from businesses including Slate, Foreign Policy and the advertising agency SocialCode was up 77 percent at Graham Holdings Company in 2013, the company said in its year-end earnings report.

That double-digit revenue rise was “due to growth at SocialCode and Slate and revenue from the Company’s recently acquired Celtic Healthcare and Forney businesses,” Graham Holdings says. Graham Holdings used to be The Washington Post Co. before it sold its flagship asset to Jeff Bezos last year. Forney makes control systems for combustion processes and Celtic Healthcare is a hospice firm.

Revenue from Graham’s cable-TV division was up 3 percent for the year and revenue from its TV broadcasting division, which includes stations in Detroit, Houston and Miami, was down 6 percent, with a decrease in political advertising revenue offset in part by higher retransmission fees, the company said. Revenue at the company’s education division, which includes Kaplan, was down 1 percent over 2012. Read more

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Bezos buys Washington Post: The Taiwanese animation

Of all the words written about the media-world-rocking deal, Taiwan’s Next Media Animation offers a truly original thought:

“After the Boston Globe’s sale for the paltry sum of $70M, Katherine [sic] Graham would be mortified to learn Jeff Bezos has bought the Washington Post for only $250M.”

The video illustrates this point with an image of Graham spinning in her coffin.

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How The Washington Post broke its own news about Bezos

Washington Post reporter Paul Farhi was on vacation in the Dominican Republic last Thursday when his boss phoned. “I need you to write a story,” Farhi remembers Executive Editor Marty Baron saying. “There’s something happening here and I can’t tell you about it.”

Baron wouldn’t spill, “which of course drives me crazy,” Farhi said. He returned to the D.C. area Friday and spent the next days “coming up with scenarios” that could merit such an ominous call: The least likely, he figured, was a sale of The Washington Post.

Sunday morning, Baron called Farhi at his home, cluing him in to “the kind of holy shit story that it turned out to be today,” Farhi said by phone. The company would announce Monday that Amazon owner Jeff Bezos would buy The Washington Post. “He swore me to secrecy.”

Farhi interviewed Publisher Katharine Weymouth Sunday and began writing the story in a Word document, keeping it out of the Post’s content management system. Read more

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Earns Washington Post

What journalists need to know about Bezos’ purchase of The Washington Post

Here are a few things journalists need to know about The Washington Post sale:

1) It came together quickly. In a video interview, Washington Post Co. chief executive Don Graham said he and Post Publisher Katharine Weymouth sat down “as last year ended” and looked at the Post’s numbers. They decided to look into selling, Graham said, and the investment bank Allen & Co. connected them with Amazon owner Jeff Bezos, with whom Graham said he had conversations in “March or April of this year.” Bezos restated his interest “less than a month ago,” Graham said, and after he and Graham met at Allen & Co.’s annual conference the second week of July, “we quickly reached a deal.”

2) It’s a story that’s making front-page headlines around the country: Read more

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Earns Washington Post

Amazon’s Bezos buys The Washington Post

The Washington Post

Amazon.com owner Jeff Bezos has purchased The Washington Post, the company announced Monday. Post Co. chief Don Graham made the announcement to employees in the newspaper’s auditorium. Here’s audio from the meeting:

The purchase price is $250 million, the Post says in a release. According to an SEC filing, Bezos is paying cash. Publisher Katharine Weymouth and Executive Editor Marty Baron will remain in their jobs.

Slate and some other online ventures will stay with the Washington Post Co., which will change its name, the announcement says.

The deal represents a sudden and stunning turn of events for The Post,” Post reporter Paul Farhi writes.

“Every member of my family started out with the same emotion—shock—in even thinking about” selling The Post, said Donald Graham, the Post Co.’s chief executive, in an interview Monday. “But when the idea of a transaction with Jeff Bezos came up, it altered my feelings.”

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Earns Washington Post

Washington Post paywall will launch June 12

The Washington Post

The Washington Post’s new paywall “will be phased in over a period of several weeks beginning June 12,” the company announced Wednesday.

Home delivery subscribers will have free access to the Post’s digital products. Others will pay $9.99 a month for desktop and mobile access and $14.99/month for a “Digital Premium” package that “includes access to all of The Post’s custom apps.”

Currently, the Post offers the first year of a Sunday-only subscription in the D.C. area for $3.16 per month, a price that rises to $7.40 per month afterward.

“Once the subscription service launches, you will initially be able to view 20 pieces of content per month before being asked to subscribe,” Post Publisher Katharine Weymouth writes in a letter to readers.

Whether or not you subscribe, we will not limit your ability to view The Post’s homepage and section front pages, watch videos or search classified advertising.

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Print advertising revenue at Washington Post was down 14% in 2012

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. Read more

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Washington Post spins off polling operation

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: Read more

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Carr: Weymouth is the problem at Washington Post

The New York Times | The Washington Post | Nieman | New York | Adweek
Last week’s change in editorial leadership at The Washington Post was “mishandled from the start,” David Carr writes. Publisher Katharine Weymouth, who engineered the change, “still seems to be struggling to get a grasp on a huge job at a company whose journalism has at times altered the course of a nation,” Carr says. Read more

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TV earnings up, print earnings down at Washington Post

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. Read more

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