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Washington Post profit down 67 percent!
AFP ^ | May 6, 2011 | Nicholas Kamm

Posted on 05/06/2011 7:34:44 PM PDT by Salvavida

WASHINGTON (AFP) – The Washington Post Co. said Friday that revenue was flat in its newspaper publishing division in the first quarter but net profit fell by two-thirds on lower enrollment in its education business. The Post Co., which owns the Kaplan chain of schools and television outlets in addition to its flagship newspaper The Washington Post, said net profit was down 67 percent in the quarter at $15.2 million. Revenue was down seven percent in the quarter that ended on April 3 to $1.06 billion while earnings per share fell to $1.87 from $4.91 per share a year ago. The Post Co.'s results for the quarter included a $30.7 million write-down of its investment in Corintian Colleges. The Post Co. said newspaper publishing division revenue was nearly unchanged during the quarter at $155.0 million compared to $155.8 million a year ago. Print advertising revenue at The Washington Post fell eight percent to $63.2 million while online publishing revenue at the WashingtonPost.com and Slate rose eight percent to $25.7 million. Daily circulation for The Washington Post declined 2.9 percent during the period and Sunday circulation was down 3.4 percent. Like other US newspapers, the Post has been grappling with declining print advertising revenue and circulation and the migration of readers to free news online. The newspaper division reported an operating loss of $12.8 million compared to an operating loss of $13.8 million a year ago. The Post Co. said education division revenue fell 10 percent to $640.6 million on lower student enrollment at its Kaplan schools. Cable television division revenue edged up to $190.3 million from $189.4 million a year ago and while television broadcasting division revenue fell two percent to $72.2 million. Washington Post Co. shares were down 2.45 percent at $421.97 in early trading on Wall Street.

(Excerpt) Read more at news.yahoo.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: dinomedia; media; msm; wapo; washingtonpost
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Good riddance, WAPO.
1 posted on 05/06/2011 7:34:46 PM PDT by Salvavida
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To: Salvavida

perhaps they will tell the facts instead of their bias.

Look I don’t want biased news either side I want just the frigging truth so if any media trolls are here then do us all a favor and get a grip and tell the facts then leave your views at home


2 posted on 05/06/2011 7:37:29 PM PDT by manc (Shame on all who voted for the repeal of DADT, who supported it or never tried to stop it. Traitors)
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To: Salvavida

Kaplan used to be a fairly decent outfit, giving workable educations to people who couldn’t manage to get through college.

I have a feeling, from what I have heard about them recently, that they started going all out for profit, and have suffered as a result.


3 posted on 05/06/2011 7:37:49 PM PDT by Cicero
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To: Salvavida

bummer


4 posted on 05/06/2011 7:39:56 PM PDT by Drango (NO-vember is payback for April 15th)
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To: Cicero
I have a feeling, from what I have heard about them recently, that they started going all out for profit, and have suffered as a result.

Their primary business is getting student loans for their victims to hand over to them.

The kids wind up buried in debt with dime-store education certificates.

5 posted on 05/06/2011 7:40:19 PM PDT by E. Pluribus Unum (Under Islam, there is no separation of church and state. The church IS the state.)
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To: Salvavida
Washington ComPost - good for the garden - not for much else except the proverbial fish-wrap.

Lamh Foistenach Abu!
6 posted on 05/06/2011 7:42:52 PM PDT by ConorMacNessa (HM/2 USN, 3/5 Marines, RVN '69 - St. Michael the Archangel, defend us in battle!)
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To: Salvavida

Stock down Wednesday and Thursday too. Looks like someone’s been leaking their financials ahead of the official announcement.


7 posted on 05/06/2011 7:43:51 PM PDT by bIlluminati (Don't just hope for change, work for change in 2011-2012.)
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To: Salvavida

Awwww!


8 posted on 05/06/2011 7:44:35 PM PDT by eeriegeno (<p>)
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To: Salvavida

9 posted on 05/06/2011 7:45:29 PM PDT by Revolting cat! (Let us prey!)
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To: Salvavida

WAPO is on the wrong side of two separate bubbles bursting,

physical media advertising budgets,
and college tuition bubbles due to government subsidies.

Watch WaPo come out in favor of changing law to make college loan debt dischargable in bankruptcy law , as soon as a Democrat comes out and proposes the bill.


10 posted on 05/06/2011 7:46:00 PM PDT by JerseyHighlander
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To: Salvavida

Bye to the Washington Compost.


11 posted on 05/06/2011 7:47:28 PM PDT by South40 ("Islam has a long history of tolerance." ~Hussein Obama, June 4, 2009, Cairo, Egypt)
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To: Salvavida

33 percent to go


12 posted on 05/06/2011 7:47:47 PM PDT by FormerACLUmember (When the past no longer illuminates the future, the spirit walks in darkness.)
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To: Salvavida
Too big to fail?

National Treasure?

National Landmark?

-PJ

13 posted on 05/06/2011 7:48:57 PM PDT by Political Junkie Too (Everyone's Irish on St. Patrick's Day, Mexican on Cinco de Mayo, and American on Election Day.)
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To: Salvavida

Gee, getting really hard to sell libby bs these days. The sixties are over, man.


14 posted on 05/06/2011 7:49:32 PM PDT by Beowulf9
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To: Cicero; manc

The profits part is what I don’t understand. 67% is huge, and it didn’t happen overnight.

That’s going to cost them big advertising bucks, and the simple solution (as manc implies), is to get back to fundamental journalism.

Does anyone know of any studies/data showing MSM moving to a more centrist position in light of falling profits? That would be a heck of a thesis for journalism students.


15 posted on 05/06/2011 7:49:42 PM PDT by Salvavida (The restoration of the U.S.A. starts with filling the pews at every Bible-believing church.)
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To: Salvavida

We will see an executive order from the king to ‘save’ historic Amerikan institutions from disappearing. They will get funding, mark my words.


16 posted on 05/06/2011 7:52:05 PM PDT by George from New England (Escaped CT in 2006, now living north of Tampa)
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To: Salvavida
You forgot to tag it as a Dinosaur Media DeathwatchTM post! LOL!
17 posted on 05/06/2011 7:56:29 PM PDT by Jack Hydrazine (It's the end of the world as we know it and I feel fine!)
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To: Salvavida

Well, you’d have to crunch the numbers to be sure, but I think that their “education” division, which is mostly Kaplan, was their big money-maker, and helped to support the news division.

As I said, I think that Kaplan used to be a decent operation. But the rise of the community colleges has probably taken a lot of their clients away, and they have become too greedy for their own good.

It used to be that Kaplan was a fast and cheap way to get into the job market. Now, there is no job market, so their graduates are stuck with education loan debts and no jobs. I think all of the colleges will suffer from that, but the weaker and less prestigious ones first.


18 posted on 05/06/2011 8:01:29 PM PDT by Cicero
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To: Salvavida

That fairy movie starring Redford,about Carl Bernstein and Bob Woodward.

Nixon should of buried those Punks,I hope that rag goes belly up.


19 posted on 05/06/2011 8:02:04 PM PDT by Cheetahcat ( November 4 2008 ,A date which will live in Infamy.)
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To: Salvavida

Only 67%?

That number seems a bit low to me.


20 posted on 05/06/2011 8:07:37 PM PDT by incredulous joe ("No road is too long with good company" Turkish Proverb)
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