Post-Newsweek Station Revenue Down 2%

Lack of Olympics, political advertising drags Q1 revenue
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 Washington Post Co. reported $72.2 million in first quarter revenue at its Post-Newsweek stations, down 2% from the same quarter a year ago. Operating income for the quarter decreased 6% to $19.6 million.

The declines are due to the absence of $4.7 million in winter Olympics-related advertising on Post-Newsweek's NBC affiliates, WDIV Detroit and KPRC Houston, in the first quarter of 2010, said the company, and a $1.8 million decrease in political advertising revenue.

Post-Newsweek owns six stations.

Cable television division revenue increased slightly in the first quarter to $190.3 million, from $189.4 million for the first quarter of 2010. That was due to "continued growth of the division's cable modem and telephone revenues, offset by an increase in promotional discounts," said Washington Post.

Cable television operating income in the first quarter decreased to $37.7 million, from $42.5 million in the first quarter of 2010, primarily due to increased programming, technical and sales costs.

Newspaper publishing division revenue totaled $155.0 million for the first quarter of 2011, down slightly from the first quarter of 2010. Print advertising revenue at the flagship Washington Post decreased 8% to $63.2 million.

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