Post-Newsweek Revenue Up 32%
Broadcast, cable up, while newspapers and education show negative numbers
By Michael Malone -- Broadcasting & Cable, 2/22/2013 12:37:55 PM EST
Post-Newsweek reported fourth-quarter revenue of $116.2
million, up 32% from the same quarter the year before. Television broadcasting division
operating income for the fourth quarter increased 54% to $62.8 million. The
increases reflect "improved advertising demand across many product
categories," said parent Washington Post Co.
Washington Post Co. reported a fourth-quarter loss of $45.4 million ($6.57 per share), compared to income from continuing operations of $61.4 million in 2011's fourth quarter.
Cable television division revenue totaled $201.7 million for the fourth quarter, a 6% increase from the fourth quarter of 2011, reflecting growth of the division's Internet and telephone service revenues and rate increases for many subscribers in June 2012, offset by a decline in basic video subscribers.
Washington Post Co.'s newspaper revenue totaled $162.1 million for the fourth quarter of 2012, a 6% decrease from the fourth quarter of 2011.
For the fourth quarter of 2012, education division revenue at Washington Post Co. totaled $544.4 million, a 6% decline from the same period of 2011.