Post-Newsweek Broadcast Revenue Down 7% in Q4

Station shortfall offsets cable's gains
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Post-Newsweek reported broadcasting revenue of $80.2 million in the fourth quarter, a 7% decrease from the same quarter last year. "The decrease in revenue is due to weaker advertising demand in most markets and product categories, particularly automotive," Post-Newsweek said in a statement. "Political advertising revenue also declined by $19.4 million and $12.4 million for 2009 and the fourth quarter of 2009, respectively."

Broadcasting's operating income declined 22% to $29 million in the quarter.

Washington Post Company's overall revenue for the quarter was up 6%, aided by cable TV, which saw a 4% increase in fourth quarter revenue to $190.6 million. The increase was "due to continued growth in the division's cable modem and telephone revenues, and a $4 monthly rate increase for most basic subscribers in June 2009," said Washington Post Co. in its earnings.

Washington Post owns Cable ONE, along with TV stations in Detroit, Houston and Miami, among others.

Newspaper publishing revenue was down 15% in the quarter while magazines were down 30%.

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