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Media

Print Advertising At The Washington Post Down 33%, Kaplan Sales Bolster Top Line

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By Douglas A. McIntyre Updated Published
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newspaper3The Washington Post (WPO) turned in earnings that showed just how important it is that the company owns the Kaplan education business.

That results at Kaplan helped offset a 33% advertising revenue decline at the company’s flagship paper. Overall revenue at the newspaper group fell 22% to $161 million. Online revenue dropped 8% to $22 million. The newspaper division reported an operating loss of $53.8 million in the first quarter of 2009, compared to operating income of $1.2 million in the first quarter of 2008.

Newsweek also struggled. Revenue for the magazine publishing division totaled $46.1 million for the first quarter of 2009, a 14% decrease. The division had an operating loss of $20.3 million.

At Kaplan, revenue totaled $593.5 million for the first quarter of 2009, a 9% increase. Kaplan reported first quarter 2009 operating income of $11.2 million.

Total revenue for WPO for the first quarter was $1.05 billion, flat from last year. The company’s net loss was $19 million compared with a profit of $39 million in the same period a year ago.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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