Lamh Foistenach Abu!
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 ...
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.
bummer
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.
Lamh Foistenach Abu!
Stock down Wednesday and Thursday too. Looks like someone’s been leaking their financials ahead of the official announcement.
Awwww!
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
National Treasure?
National Landmark?
-PJ
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.
Only 67%?
That number seems a bit low to me.
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