Washington Post Broadcast Revenue Down 20%

Cable a bright spot

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.