Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

Washington Post 1Q Net Tumbles 84% (Dinosaur Media DeathWatch™)
Fox Business ^ | May 3, 2013 | Matthew Rocco

Posted on 05/03/2013 8:19:04 AM PDT by abb

Washington Post Co. (WPO) reported Friday an 84% drop in first-quarter profit amid one-time charges and a loss from discontinued operations.

Decreases in print advertising and circulation at its namesake paper have weighed on the newspaper and education company’s earnings in recent years. Washington Post announced in March that it will begin charging readers for access to its paper’s website, after raising circulation prices in January.

The company’s profit tumbled to $5.2 million, or 64 cents a share, from $31.5 million, or $4.07 a share, in the year-ago period. Revenue remained level at $959.1 million and operating expenses were also flat.

Discontinued operations, which posted a year-ago profit of $17.6 million, swung to a loss of $1.4 million.

The quarter also was weighed down by restructuring at Washington Post’s Kaplan division, the largest top-line contributor. The company is merging some campuses and halting enrollments at others, moves that are expected to cost $18 million in restructuring charges in the second half of 2013.

In the latest period, the education division narrowed its operating loss but posted a 3% decline in revenue to $527.8 million. Enrollment slid 8.3% excluding closed campuses, or 12% overall.

Washington Post said its newspaper-publishing segment saw revenue fall 4%, as print advertising revenue from the namesake paper decreased 8% to $48.6 million. Daily and Sunday circulation fell 7.2% and 7.7%, respectively.

Online publishing revenue, which largely includes washingtonpost.com and Slate, rose about 8% to $25.8 million amid a 16% increase in display online advertising revenue. Online classified advertising revenue fell 6%.

The cable television business recorded revenue growth of 5.2%.

Shares were trading 1.15% lower at $447.30 in early morning trading.

Read more: http://www.foxbusiness.com/industries/2013/05/03/washington-post-1q-net-tumbles-84/#ixzz2SF8mCVRt


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events
KEYWORDS: advertising; circulation; lyingdyingmedia; newspapers; wapo
Friday morning good news.
1 posted on 05/03/2013 8:19:04 AM PDT by abb
[ Post Reply | Private Reply | View Replies]

To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; Bahbah; bert; bilhosty; Caipirabob; carmenbmw; ...

Ping


2 posted on 05/03/2013 8:19:47 AM PDT by abb
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

Wow, at first glance the lede appeared to read “Washington Post IQ tumbles 84%”...and my thought was...”that little?”


3 posted on 05/03/2013 8:21:28 AM PDT by Da Coyote
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

They are charging for access to their website?

Are any other papers having success getting readers to pay on the web? I ask because with literally millions of places on the web you can get news and info for free, why would someone pay for access for one specific newspaper online? Just wondering how viable a business model that is.


4 posted on 05/03/2013 8:22:38 AM PDT by Dilbert San Diego
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb
Where will America be without the leftist editorial monopoly?

Take a deep breath, close your eyes, and smile...
5 posted on 05/03/2013 8:24:07 AM PDT by golux
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

Good news indeed. I look forward to the day when Liberals can’t make a living in media.


6 posted on 05/03/2013 8:24:26 AM PDT by DiogenesLamp (Partus Sequitur Patrem)
[ Post Reply | Private Reply | To 2 | View Replies]

To: Dilbert San Diego

Not very. The big money in newspapers is (or it was) in classified advertising. Craigslist has hollowed that out, but good. Also, other advertisers are migrating to online. There is no future in ink-on-paper, hand-delivered, day-old news.

Think clay tablets vs papyrus.


7 posted on 05/03/2013 8:26:07 AM PDT by abb
[ Post Reply | Private Reply | To 4 | View Replies]

To: abb
Washington Post announced in March that it will begin charging readers for access to its paper’s website

This is the devil's candy sold to and bought by every media company who eat up the laughable pie-in-the-sky revenue projections.

Meanwhile, their advertisers are being sold down the river as impressions and click-throughs drop like anvils because nobody can see the ads.

The very people they want to attract as subscribers and/or advertising targets are savvy tech types who can circumvent a paywall in seconds.

But I'm in a charitable mood. I would be happy to drive Eugene Robinson to the unemployment office.

8 posted on 05/03/2013 8:32:18 AM PDT by relictele
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb
Think clay tablets vs papyrus.

Clay tablets versus the telegraph, maybe? That's a heck of a good comparison, abb, but I have a hunch it needs to be pushed further. I think we're looking at a difference in kind, not mere degree.

I could be R-O-N-G, wrong, too.

9 posted on 05/03/2013 8:34:49 AM PDT by Standing Wolf
[ Post Reply | Private Reply | To 7 | View Replies]

To: DiogenesLamp
"Good news indeed."

I've mixed feelings on the Post, they do occasionally report news, unlike the NYT or LAT which are entirely propaganda machines.

10 posted on 05/03/2013 8:38:17 AM PDT by jpsb
[ Post Reply | Private Reply | To 6 | View Replies]

To: abb
Washington Post announced in March that it will begin charging readers for access to its paper’s website, after raising circulation prices in January.

Yeah, that's gonna work.../s

Maybe they should hire a reporter to go out and talk to former RANDOM readers about why they quit buying the paper. They might learn something their survey people aren't telling them.

11 posted on 05/03/2013 8:39:46 AM PDT by GOPJ (The screed of so-called journalists: 'If it doesn't fit, you must omit.' - - freeper Vigilanteman)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

The good news is our robust economy will absorb any Compost layoffs. Right?


12 posted on 05/03/2013 8:48:24 AM PDT by Huskrrrr
[ Post Reply | Private Reply | To 1 | View Replies]

To: topher
Unbiased media like FoxNews is thriving...

Liberal, extremely biased media is dying...

Unfortunately, some of these liberal, extremely biased media is not dying fast enough before minds are poisoned and misled...

13 posted on 05/03/2013 8:48:26 AM PDT by topher (Traditional values -- especially family values -- which have been proven over time.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Da Coyote
LOL! Thats how I read it too at first glance! Thats when I actually stopped to read it☺
14 posted on 05/03/2013 8:50:53 AM PDT by Quickgun (I got here kicking,screaming and covered in someone else's blood. I can go out that way if I have to)
[ Post Reply | Private Reply | To 3 | View Replies]

To: Da Coyote

LOL, guess I wasn’t the only one.


15 posted on 05/03/2013 8:51:29 AM PDT by dfwgator
[ Post Reply | Private Reply | To 3 | View Replies]

To: abb

I’m going to have a spring in my step all day long...


16 posted on 05/03/2013 8:55:18 AM PDT by NVDave
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

[Think clay tablets vs papyrus.]

Or papyrus versus movable type.


17 posted on 05/03/2013 8:57:58 AM PDT by Brad from Tennessee (A politician can't give you anything he hasn't first stolen from you.)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Dilbert San Diego

Yes, newspapers who deliver value to their customers.

Like say, oh, the Investor’s Business Daily, or the WSJ. The Financial Times out of London has had some success, I’ve read, but I don’t know their numbers like I do those of US papers.

Other papers... they don’t really deliver anything of value. What value is there in a newspaper that a) selectively reports news-worthy events, and b) puts every story into a predictable spin-machine? There’s nothing in most major US newspapers that surprises the readers with good, clear-cutting analysis any more. Everything has become a spin job for this administration and their party.

The hissy fit of the LA Times at the mere rumor that the Koch brothers might invest in the purchase of the paper is exemplary of their group-think.


18 posted on 05/03/2013 8:58:56 AM PDT by NVDave
[ Post Reply | Private Reply | To 4 | View Replies]

To: NVDave

The SOCIALIST DEMOCRATIC FOOLS running this paper are so ignorant they don’t realize putting forth their HIDE THE DECLINE journalism is like shooting themselves in the foot.


19 posted on 05/03/2013 9:10:47 AM PDT by spawn44 (MOO)
[ Post Reply | Private Reply | To 18 | View Replies]

To: abb

A little birdie told me they are putting their money into anything and everything EXCEPT newspapers. Staffing firms, health care, energy companies, etc. etc.


20 posted on 05/03/2013 9:22:44 AM PDT by Buckeye McFrog
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

I read WaPo online and readers comments.

It is 80-90% leftist, some extremely so. Typical of the Washington DC bubble.


21 posted on 05/03/2013 9:57:25 AM PDT by PGR88
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

Cancel your subscription NOW.


22 posted on 05/03/2013 10:16:38 AM PDT by mohresearcher
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

I couldn’t help but read this as:

“Washington Post IQ Tumbles 84%”


23 posted on 05/03/2013 11:47:06 AM PDT by yefragetuwrabrumuy (Best WoT news at rantburg.com)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

24 posted on 05/03/2013 1:15:10 PM PDT by fieldmarshaldj (Resist We Much)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb


25 posted on 05/03/2013 2:37:48 PM PDT by Chode (Stand UP and Be Counted, or line up and be numbered - *DTOM* -ww- NO Pity for the LAZY)
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb
Friday morning good news.

GRRRRRREAT news! Thanks for the ping/post.

DEFUND socialist collectives, foreign and domestic.

26 posted on 05/03/2013 4:43:25 PM PDT by PGalt
[ Post Reply | Private Reply | To 1 | View Replies]

To: abb

I have a friend that makes his entire living off of publishing those freebee advertisement throw-aways (seen in laudromats) for the explicit purpose of publishing legal notices. He was able to legitimize the “newspapers” by inserting news stories that college newspapers get, along with one or two “original” news stories about something going on in the area.

Thos legal notices bring in a very pretty penny.


27 posted on 05/04/2013 5:13:43 AM PDT by ConservativeMind ("Humane" = "Don't pen up pets or eat meat, but allow infanticide, abortion, and euthanasia.")
[ Post Reply | Private Reply | To 7 | View Replies]

To: ConservativeMind

I grew up in a very beautiful but almost entirely rural county that has been hit pretty hard by trade policy. Twenty years ago, only the southern end of the county commuted out, it was a “bedroom community” for the urban area to the south. The remainder stayed in the county, but no longer.

There were three weekly newspapers then, one for every town, now there’s just one for the whole county. The majority of it is comprised of legal notices. My mother still subscribes but says it’s only good for the obituaries. She wants to know if an acquantance, former coworker or distant relation passes.

Nothing else worth reading in there anymore, she says.


28 posted on 05/04/2013 5:28:33 AM PDT by RegulatorCountry
[ Post Reply | Private Reply | To 27 | View Replies]

To: ConservativeMind; RegulatorCountry

Here in Louisiana, every time the Legislature puts a bill in to allow local governmental entities (towns, school boards, parishes, water districts, etc) to put their legal notices online, the Louisiana Press Association swings into action. Publishers and editors head to Baton Rouge to swarm the committee hearings and sting the proposed bills to death.

I need someone to tell me how a newspaper can objectively cover a school system or town government if the newspaper depends on that very agency for survival?

Here’s a story in North Carolina where such a bill is being heard in their legislature at this year’s session.

http://www.charlotteobserver.com/2013/04/16/3986623/press-attorney-newspapers-targeted.html
Press attorney: newspapers targeted by bill on legal ads


29 posted on 05/04/2013 8:15:25 AM PDT by abb
[ Post Reply | Private Reply | To 27 | View Replies]

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson