The Washington Post Company's newspaper division reported on Wednesday that they earned revenue in the fourth quarter of 2009. In the fourth quarter of 2008, The Post reported an operation loss of $14.4 million, but an operating income of $3.2 million in the fourth quarter of 2009. The Post attributes the financial gain to continued cost cutting. I wish they had elaborated on how they cut costs so other papers could follow in their footstep and possibly start to turn a corner for the better. Although The Post had a loss of $163.5 million in 2009, the fourth quarter shows a glimmer of hope and I will be interested to see where their numbers are after the first quarter of 2010.
To give some perspective, at The Washington Post Co. their television stations went down 16% from 2008in revenue and their magazines went down 30% in revenue from 2008.
Read the full article here: http://www.washingtonpost.com/wp-dyn/content/article/2010/02/24/AR2010022401924.html?hpid=moreheadlines
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment