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Washington Post's profits dive by 50%
Guardian ^
| 8/5/11
| Mark Sweney
Posted on 08/05/2011 7:15:53 PM PDT by Nachum
The Washington Post has reported a 50% plunge in profits for the second quarter of 2011, as advertising revenue at its print and online businesses suffered double-digit declines. The Washington Post Company, which is quoted on the New York Stock Exchange, also reported that its education unit, Kaplan, had a tough quarter, with operating income plunging 82% to $20.5m and revenues falling 15% to $628.7m. Overall profits at the Washington Post Company for the three months to the end of June were $45.6m, a 50% decline on the $91.9m the company reported in the same period last year.
(Excerpt) Read more at guardian.co.uk ...
TOPICS: Business/Economy; Front Page News
KEYWORDS: dive; greenshoots; liberalmedia; newspapers; posts; profits; washington
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To: Nachum
Gee, I would imagine that will put a lot of liberal reporters out of a job.... how's that hopey changey workin' for ya now, boys?;)
41
posted on
08/05/2011 9:55:55 PM PDT
by
Beowulf9
To: Nachum
I’m surprised they’re making profits. Wow.
42
posted on
08/05/2011 10:06:25 PM PDT
by
Secret Agent Man
(I'd like to tell you, but then I'd have to kill you.)
To: Secret Agent Man
Im surprised theyre making profits. Wow. The Washington Pest make a profit? Only after heavy monetary injections by Progressives/Liberals.
43
posted on
08/06/2011 4:17:20 AM PDT
by
sr4402
To: Nachum
I would like to hear from other people who work in the industry. I use to think it was the case biased reporting was a huge part of the decline of the major liberal rags in this country, but in my limited experience so far, it's just not the case...
The internet, mobile devices (more news sources) and this downtrodden economy are the greatest contributors.
Businesses, know people are not using newspapers as much any more to seek information, so therefore they are spending advertising $$$ elsewhere.
44
posted on
08/06/2011 5:44:42 AM PDT
by
sirchtruth
(Freedom is not free)
To: Nachum
45
posted on
08/06/2011 6:41:41 AM PDT
by
stephenjohnbanker
(God, family, country, mom, apple pie, the girl next door and a Ford F250 to pull my boat.)
To: sirchtruth
That's the bottom line. For most newspapers, the internet has killed the classifieds and the national product ads.
To: hinckley buzzard
That's the bottom line. For most newspapers, the internet has killed the classifieds and the national product ads.I would say this is true for the majors, but small town is surviving quite well as I see it. Are the Majors gobbling up alot of the smaller markets? I know the Denver Post owns a slew of town papers.
47
posted on
08/06/2011 1:10:59 PM PDT
by
sirchtruth
(Freedom is not free)
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