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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
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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To: Jack Hydrazine

ROFLOL! You got me Jack. I knew I was missing something.

WAPO is a Tyrannosaurus-type dinosaur that needs to go away. I’m in their media coverage area; when I read their headlines it makes me want to puke.


21 posted on 05/06/2011 8:10:51 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

I’ll let it go this time, but next time, if you forget, I’ll have to ding ya for it! LOL!


22 posted on 05/06/2011 8:12:38 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: abb
Wa Poo in Doo Doo ping.
23 posted on 05/06/2011 8:16:49 PM PDT by Zakeet (I know Obama is level headed because he drools out of both sides of his mouth at the same time)
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To: abb
Photobucket

ping!

24 posted on 05/06/2011 8:19:04 PM PDT by Clay Moore (The heart of the wise inclines to the right, but the heart of a fool to the left. Ecclesiastes 10:2)
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To: Salvavida

Federally managed and subsidized student loans have caused unbelievable damage. None of these phony schools would exist without them. Many fewer idiotic, parasitic professors of victimology would exist without them. Higher education would be much more affordable and worthwhile without them. The national debt would be much less without them. The number of people under massive debt loads with little to show for it would be much fewer without them. The list goes on and on.


25 posted on 05/06/2011 8:22:54 PM PDT by Minn
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To: manc

You would think after all these papers are sinking that one or two might think about facts, but no, they all want sink in the bias. It makes reason stare.


26 posted on 05/06/2011 8:24:59 PM PDT by Goreknowshowtocheat
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To: incredulous joe; Cicero

I think Cicero’s theory has merit. They took it in the shorts in their education division.....big time. Their circulation has flat-lined: what they lost in print, they made up in online circulation.

It amazes me why people would subscribe to that drivel when they can get much better for free.

Still, a 67% loss will bring folks into the boardroom. Shareholders are not going to tolerate zero growth circulation in the print division, in the only place in the USA where jobs are stable.


27 posted on 05/06/2011 8:26:48 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

Good. Let them cover obama’s back all the way to the unemployment line.


28 posted on 05/06/2011 8:30:09 PM PDT by jersey117
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To: Salvavida

The Washington Post couldn’t present a news story involving politics without a stench of bias clinging to every word.

The lowlifes.


29 posted on 05/06/2011 8:53:44 PM PDT by OldPossum
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To: Salvavida
Hemorrhaging revenue, declining readership/viewer-ship is the consequence of serial lying to an increasingly aware public.
30 posted on 05/06/2011 8:55:52 PM PDT by steelyourfaith (If it's "green" ... it's crap !!!)
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To: Salvavida

I guess people don’t feel the need to pay money for US Government press releases ...


31 posted on 05/06/2011 9:09:13 PM PDT by spodefly (This is my tag line. There are many like it, but this one is mine.)
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To: Salvavida

Soon our tax dollars will be used to keep them and ther NYT a float.


32 posted on 05/06/2011 9:28:50 PM PDT by NoLibZone (I can't force my kids to take on the DNC vote buy debts and be hated for working while doing so.)
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To: Salvavida; abb

Without Kaplan there might be no Post at all


33 posted on 05/06/2011 9:55:58 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: Revolting cat!

#9-

That’s available on Netflix!


34 posted on 05/06/2011 9:57:34 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: Cicero

Kaplan also is the single company holding up the NYT. Kaplan is being sheltered by the taxpayers.


35 posted on 05/06/2011 11:36:42 PM PDT by max americana (FUBO)
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To: South40

And let’s add the NY Slimes. I want to see the Sultzberger clan have to go get a job!


36 posted on 05/07/2011 12:53:31 AM PDT by vette6387 (Enough Already!)
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To: Salvavida

Eventually, these Left leaning rags will no longer be required by the Leftists taking control of the nation... arm up.


37 posted on 05/07/2011 1:11:18 AM PDT by Gene Eric (*** Jesus ***)
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To: Salvavida

Washington Post use to be a very reliable newspaper.
Now it is an idealogue that has a liberal agenda it is always pushing.
It isn’t worth the paper it is written on.


38 posted on 05/07/2011 5:10:38 AM PDT by Joe Boucher ((FUBO))
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To: Salvavida

Thanks for posting this. It’s a great way to start off the weekend!


39 posted on 05/07/2011 5:11:57 AM PDT by jmaroneps37 (Conservatism is truth. Liberalism is lies.)
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To: jmaroneps37

Come on, Washington Compost. Surely, you can do better than that. Try for 100%!


40 posted on 05/07/2011 5:16:43 AM PDT by hal ogen (1st amendment or reeducation camp?)
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To: Salvavida

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.


41 posted on 05/07/2011 5:27:46 AM PDT by mom.mom
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To: Salvavida; Cicero

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.


42 posted on 05/07/2011 6:26:31 AM PDT by incredulous joe ("No road is too long with good company" Turkish Proverb)
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To: Goreknowshowtocheat

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


43 posted on 05/07/2011 9:13:36 AM 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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