Washington Post profit down 67 percent!

AFP ^ | May 6, 2011 | Nicholas Kamm

[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.

[mom.mom]

So, even liberals want the unbiased facts.

Years ago in CT everyone got a NYT delivered to their door. You would hear a wap wap wap early each morning as they threw them. Now - nothing. It is rare that you see a blue plastic wraped NYT laying in someone’s driveway.

[incredulous joe]

My local county paper, which is very small, has been thin as a dime for years, mostly because there are no advertisements and no ad revenue; no real real estate section, no auto sales advertisements. At one point last summer, I remember seeing papers with almost no advertisements. I don’t know how that works?

My children go to a private school and the skilled nursing facility that I work in (since I was bumped out of my own job market in ‘09) both have piles of paper dumped off every day, which go unread ~ unopened. The papers go from the delivery to the offices to the recycling bin.

Obviously, these delivery programs are part of an effort to mask a horribly declined circulation rate. So that the paper can continue to charge for a higher revenue. Every other small town paper probably participates in similar programs. I have to wonder when the law of diminishing returns may kick in with the cost of gas and paper running higher everyday.

I always disliked the WaPo for its political slant, but I occasionally bought it from time to time. After Jim Webb was elected in ‘06 in the race against George Allen for Virginia’s Senate seat ~ with news stories that amounted to tens of thousands of dollars in free advertising for Webb, the whole “macaca” thing, Allen’s mother being a jew ~ I promised that the Post would never see the inside of my home. It has not.

For me, at that time, the Post went from being a relatively benign left leaning rag to being a propaganda organization that influenced the outcome of the election.

At the same time the Washington Times has cut back. I look for the paper online, but can not purchase it at a local convenience store anymore. When I visit my in-laws in Delaware. I see the Times on news stands and I always pick-up a copy ~ much to the chagrin of my liberal, Post purchasing, ex-hippy mother in law.

[manc]

That i what I don’t get.
Their bias and lies has hurt their business and yet they still cannot just report the facts, instead they feel theyb have to protect the left.
WHY?

All I want is facts no matter how bad or good it is to either side and let me decide on what I agree or disagree with.

Look at the white house having a meeting of cross dressers for the first time in history, will the media report this and ask questions, hell no because they know it hurts their cause but are quick to point out how Obama met the seals etc

Just report both not just what helps one side