Washington Post Broadcast Revenue Down 20%
Cable a bright spot
By Michael Malone -- Broadcasting & Cable, 7/31/2009 10:10:51 AM
Washington Post Company reported broadcasting revenue of $66.7 million for the second quarter, a 20% decrease from the previous year's second quarter. Broadcasting operating income was $14.3 million for the quarter, a 52% drop from last year.Washington Post cited "weaker advertising demand in all markets and most product categories, particularly automotive," at its Post-Newsweek station group.
Overall, the company reported net income of $11.4 million for the second quarter, compared to a net loss of $2.7 million in the second quarter last year.
One area of growth in the company is cable television, which reported revenue of $186.7 million in the second quarter-up 4% from the same quarter last year.
Newspaper revenue was down 14% and magazine publishing down 27%.
Besides its publishing properties, Washington Post owns Cable One and six TV stations, including WDIV Detroit and KPRC Houston.
Talkback
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Ah, ya, just how many jobs were cut iin order to "make/earn" profit?
strussman - 7/31/2009 3:22:35 PM EDT
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