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Earnings: Washington Post Is Losing Money, But Washington Post Co. Is Making It

The Washington Post
The Washington Post Company (WPO) reported $17.1 million in income this quarter, a $7 million increase from the third quarter of last year, even as its flagship newspaper lost $23 million in the quarter.

Revenues at the company’s Education division, which includes Kaplan, increased 14% year over year to $684.5 million. The company’s cable television division also increased revenue by 4 percent to $189.6 million.

Meanwhile, revenues at the company’s newspaper decreased 20 percent to $156.3 million; even online revenue from washingtonpost.com fell 18 percent to $22.6 million. This all adds up to a loss of $23.6 million, but thanks to cost-cutting measures like buyouts and the closure of one printing plant the loss was much less severe than last year’s third quarter $82.7 million, BUT, year to date, the newspaper has lost almost as much this year ($166 million) as it did last year ($178 million).

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