Washington Post Co. profit falls 77 percent
WASHINGTON -- The Washington Post Co. says its fourth-quarter profit plunged 77 percent, hurt by hefty one-time charges despite modest revenue growth led by the company's education and cable TV businesses.
The company, which owns the Kaplan academic testing service and publishes Newsweek magazine along with its flagship newspaper, posted net income of $18.8 million, or $2.01 per share, compared with $82.9 million, or $8.71 per share, in the same quarter a year ago.
Revenue grew 3 percent to $1.16 billion from $1.13 billion.
The company said its results included a $142.3 million write-down on the value of its newspapers and other assets, a $111.1 million charge for early retirement expenses and other one-time items.
-- The Associated Press
Reader Reactions
Look, if their star “investigative journalist” Bob Woodward would work consistently, maybe they would make some money.
I mean the guy investigates when guys like Nixon are in the White House, but takes off 4 years when guys like Carter are in.
Then works again when guys like Reagan are in the White House, then off again for 8 years in the 1990s.
Then he decides to “investigate” again in 2000 for another 8 years.
Then he takes off from “investigating” when Obama decides to run. He is off again until 2013.
I mean, your employees have to show up every day with their “A” game, or profits suffer.
Hardball journalism sells. Selective journalism does not.
My point is to your earlier statement that this paper was suffering because it leaned to the left, your quote:
“Could it be because all the suffering papers lean left? Probably so. Bet you if Fox News had a newspaper it wouldn’t be suffering.“
My reply FOX NEWS has a paper and it’s suffering too. WOW shouldn’t have had to explain my point pretty simple to grasp.
gqrich, what’s your point? I’ve never denied that Fox News is right leaning. But liberals continuously deny that all the other cable news networks (and a majority of papers) are left leaning (I use that term lightly because if they leaned any farther left, they’d fall over) But if you look at the number of left leaning media outlets versus right leaning ones, you can clearly see which views have the most voice.
Just to set 1twenty13 straight about left leaning papers. The NY Post owned by Rupert Murdoch who also owns FIXED NEWS, oh sorry typo, mean FAUX NEWS, dag fingers keep slipping, FOX NEWS is seeing severe declines in revenue as well. So sorry but it’s the industry not the content. Besides if it were the content the NY Post would be under fiction.
Mark, can you not also reverse your statement to say the same for you? “The simple-minded are easy to brainwash, hence the power of Huffington and CNN and MSNBC and NYT and WaPo (and I could go on all day). You left-wingers have never listened to Hannity or watched Fox News. You’ve never read a book by Rush Limbaugh. But you’ve been filled with ignorant hate for these people by your media handlers.“
You believe everything you see from these leftist wackos and never consider there’s another side to the story. I do pay attention to the other side for as long as I can stand to listen. When reporting the news and facts turns to opinion and commentary, I turn off the liberal-leaning media.
The opposite of “left” is “right” and the opposite of “wrong” is “right”, therefore “left” equals “wrong”.
mark: If you get rich off of me, then you’ll need to get down on your knees and thank God, because that would be a miracle. I’ve been doing the same job for all my life and still make less that $50K. Not all of us right-wing nut jobs are gold-plated robber barons. They tend to be leaning leftward these days.
The simple-minded are easy to brainwash, hence the power of Rush and Fox News. You right-wingers have never read the New York Times or the Washington Post. You’ve never read a book by Al Franken or seen a movie by Michael Moore. But you’ve been filled with ignorant hate for these people by your media handlers. There is a clear division between right and left and, for the most part, it defines intelligence. You love your old icons but have forgotten what they did. Do you know how much Reagan raised our national debt? No. Do you realize the “star wars” program was a huge waste of resources and never a plausible solution (and, by the way, had nothing to do with the fall of the USSR)? Simple minds, like fat cattle, milked of their money by fat billionaires. I just wish I could get rich off of you too.
spdrin: I rest my case.
Ignorance is bliss. if the right wing read a decent paper like the Washington Post instead of getting their news from Rush or Fox News then this country would be better off. The right has lead us down the path of economic and environmental destruction for eight years. We went from wondering what to do with our massive budget surplus to wondering how to pay off our massive deficit. We owe this to George Bush and the Republicans. Read the papers right wingers. Learn how your party has sold you out.
spdrin: ‘It’s all Bush’s fault and if you don’t agree with me you’re a racist.‘ That’s pretty popular among posters too. Nobody has cornered the market on ignorance.
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