The Washington Post Company, owner of the Post-Newsweek station group, today announced its financial results for the fourth quarter as well as the full year of 2011.

Revenue for the company’s station group declined 7% in 2011, to $319.2 million, and decreased 14% for the fourth quarter, compared to the same period in 2010.

“The decline in revenue is due primarily to the absence of $4.7 million in incremental winter Olympics-related advertising in the first quarter of 2010 and a $32.8 million and $18.9 million decrease in political advertising revenue for 2011 and the fourth quarter of 2011, respectively,” the company stated.