Washington Post: Profit Declined 77%
Q4 profit declined 77% at the Washington Post – growth only at education and cable TV; http://tr.im/gLW3
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Gerrit Eicker 19:01 on 25. February 2009 Permalink |
NYT: “This was the company’s ninth consecutive quarter of declining profit. … Together, Kaplan and the Cable One unit provide most of the company’s revenue and are bolstering its finances at a time when newspapers face steep declines in ad revenue. Four newspaper publishers have filed for bankruptcy recently, and newspapers in Denver and Seattle might be closed if their owners cannot find a buyer. The same fate could await The San Francisco Chronicle if its publisher, the Hearst Corporation, cannot significantly reduce that newspaper’s expenses in the next few weeks.”
pC: “The company includes online results with each of its segments but reports that overall, online publishing, primarily washingtonpost.com, brought in $122.7 million in revenue in 2008, up 7 percent, and $35.5 million in Q408, up 5 percent. Display advertising was up 17 percent for 2008 and 10 percent for Q4. Online classifieds didn’t as well, down 3 percent for the year and 6 percent for the quarter.”