Post-Newsweek Revenue Climbs 44%
Broadcast and cable help Washington Post Co. offset print losses
By Michael Malone -- Broadcasting & Cable, 11/2/2012 2:16:27 PM
Post-Newsweek revenue in the third quarter was $106.4 million, up 44% over the same quarter a year ago. Operating income for the third quarter more than doubled to $54.1 million.
The increase in broadcast revenue reflects a $15.6 million in political advertising revenue in the third quarter, $10.8 million in incremental Summer Olympics-related advertising at the company's NBC affiliates and increased retransmission revenues.
Parent Washington Post Co.'s revenue for the third quarter was $1.01 billion, flat compared to the third quarter of 2011.
Cable television revenue grew 6% to $199.6 million, due in part to internet and telephone service revenues. Cable division operating income increased 8% to $39.9 million.
Newspaper publishing division revenue totaled $137.3 million for the third quarter of 2012, down 4% from the third quarter of 2011. Print advertising revenue at The Washington Post slipped 11% to $51.4 million.
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