Skip to comments.Washington Post profit down 67 percent!
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.
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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
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.
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.
Stock down Wednesday and Thursday too. Looks like someone’s been leaking their financials ahead of the official announcement.
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.
Bye to the Washington Compost.
33 percent to go
Gee, getting really hard to sell libby bs these days. The sixties are over, man.
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.
We will see an executive order from the king to ‘save’ historic Amerikan institutions from disappearing. They will get funding, mark my words.
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.
That fairy movie starring Redford,about Carl Bernstein and Bob Woodward.
Nixon should of buried those Punks,I hope that rag goes belly up.
That number seems a bit low to me.
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.
I’ll let it go this time, but next time, if you forget, I’ll have to ding ya for it! LOL!
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.
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.
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.
Good. Let them cover obama’s back all the way to the unemployment line.
The Washington Post couldn’t present a news story involving politics without a stench of bias clinging to every word.
I guess people don’t feel the need to pay money for US Government press releases ...
Soon our tax dollars will be used to keep them and ther NYT a float.
Without Kaplan there might be no Post at all
That’s available on Netflix!
Kaplan also is the single company holding up the NYT. Kaplan is being sheltered by the taxpayers.
And let’s add the NY Slimes. I want to see the Sultzberger clan have to go get a job!
Eventually, these Left leaning rags will no longer be required by the Leftists taking control of the nation... arm up.
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.
Thanks for posting this. It’s a great way to start off the weekend!
Come on, Washington Compost. Surely, you can do better than that. Try for 100%!
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.
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.
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.
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