Post-Newsweek Revenue Down 21%
Cable is up at Washington Post Co., broadcast is down
By Michael Malone -- Broadcasting & Cable, 5/1/2009 10:41:40 AM
Post-Newsweek reported first quarter revenue of $61.2 million, a 21% slide from the $77.7 million the group made in the first quarter last year. Operating income for the quarter was down 54% to $12.1 million."The decrease in revenue and operating income is due to weaker advertising demand in all markets and most product categories, particularly automotive; political advertising revenue also declined by $2.8 million," the company said in a statement.
Parent Washington Post Company reported first quarter revenue of $1,054.1 million, down 1% from the same quarter last year. It stated a net loss of $19.5 million ($2.04 loss per share) for its first quarter, compared to net income of $39.3 million ($4.08 per share) in the first quarter of last year.
Cable television had $183.5 million in revenue for the first quarter, a 5% increase. Newspaper publishing was $160.9 million, down 22%, while magazine revenue was down 14%.
Post-Newsweek owns six stations, including WDIV Detroit and KPRC Houston.
Post-Newsweek Revenue Down 17%
10/29/2009Washington Post Broadcast Revenue Down 20%
07/31/2009Washington Post Revenue Up 8% in Q1
05/02/2008LIN Revenue Down 20%
08/06/2009Net Income Down at Washington Post in Q4
02/27/2008
